French investment fund IROKO Atlas SCPI has acquired Ballymacken Logistics Facility, a fully occupied 177,000 sq ft logistics investment in Portlaoise, Co. Laois, with Colliers advising the buyer. The roughly €15 million deal is the fund’s first industrial portfolio acquisition in Ireland and prices the asset at about €84 per sq ft.

IROKO manages the SCPI, a French non-traded property fund launched in 2025 that invests outside France. It reported capitalisation of €166.9 million at 30 June 2026. Its Irish portfolio now includes Citywest Shopping Centre as well as Ballymacken.

The facility comprises four standalone warehouse and office buildings on a secure 11-acre site and generates a passing rent of about €1.37 million a year. Tenants are Tirlán, Graphic Packaging Ireland, the Courts Service, a state body, and Cool Springs, with Tirlán providing about half of the income.

Tirlán is a farmer-owned dairy and grain co-operative that reported revenue of €2.94 billion for 2025, and it operates a dairy and chilled food distribution hub at Ballymacken, delivering large quantities of produce from the site.

The structural driver is constrained supply. Colliers says demand for modern, well-located industrial and logistics premises remains strong while supply is limited and vacancy consistently low, which supports assets such as Ballymacken.

The property sits on the N80, about 4km from Portlaoise and 3.5km from Junction 16 of the M7 motorway. Dublin’s M50 is less than an hour away, and the country’s principal regional cities are reachable within about two hours.

The sale price of about €15 million reflects a capital value of about €84 per sq ft, which Colliers describes as substantially below build cost. Sherry FitzGerald Davitt & Davitt represented the vendor.

For the sector, the deal shows a French property fund adding Irish logistics, with about half of the asset’s income coming from a single dairy co-operative tenant.

Source: Colliers / IROKO / France SCPI / Tirlán