The property was acquired by Lysara from UBS Asset Management.

Extending to 411,185 sq ft, the purpose-built logistics facility was constructed in 2020 and is fully let to Amazon UK Services Ltd on a 15-year Full Repairing and Insuring lease from September 2020. The lease provides for five yearly upwards only rent reviews, compounded annually in line with CPI, subject to a collar and cap.

Located within the established Belfast Harbour industrial area, the property occupies a self-contained site of approximately 9.5 acres and benefits from immediate access to Belfast Port, Belfast City Airport and the M1 and M2 motorway network. Titanic Quarter is one of Europe’s largest urban waterfront regeneration projects and is home to a diverse range of national and international occupiers.

The facility comprises a 91,077 sq ft distribution warehouse and office accommodation, alongside a triple‑deck van park with 479 spaces, extending to more than 320,000 sq ft.

It is Northern Ireland’s only purpose-built last mile warehouse and distribution centre, designed to meet Amazon’s operational requirements.

Ben Turtle, Head of Savills Northern Ireland, commented:

“This transaction demonstrates the strength of investor appetite for high quality logistics assets in Northern Ireland, particularly those underpinned by global covenants and long-term, inflation-linked income.

The Amazon facility at Titanic Quarter is a best-in-class last mile asset in a market where opportunities of this scale and specification are extremely limited. Achieving a sale at £26.05 million and a 6.58% net initial yield reflects both the quality of the asset and continued confidence in the logistics sector.”

The Northern Ireland logistics and warehousing sector continues to see demand outstrip supply, with limited availability of institutional-grade product. The sale reinforces the depth of capital targeting secure income-producing assets in strategic urban locations.

Savills acted on behalf of UBS Asset Management.