Mountpark Logistics has bee granted permission to build a €40 million logistics and industrial hub in Baldonnel, south county Dublin.

Work on the state-of-the-art development will create roughly 120 jobs, with construction set to start this summer.

As many as 850 jobs are expected to be created by the companies operating in the hub once it opens, while a further 15 additional ancillary service jobs are also likely to be required.

The hub will be the country's largest speculative logistics development. Demand for the facility is expected to be strong, with CBRE Dublin set to market it.

Phillip O'Callaghan of Mountpark said of the announcement:

"There is no project currently in Ireland of the quality of specification that we are planning to build.

"This facility will be built to meet the requirements of modern logistics companies.We know, from the discussions we have already held with businesses and development bodies, that there is strong demand for well-located hubs such as this.

"We believe that the project will facilitate agencies such as the IDA and South Dublin County Council in attracting companies to the region.

"We look forward to working with local stakeholders to deliver a long-term benefit for south county Dublin and for Mountpark."

Mountpark Logistics EU is a joint venture between USAA Real Co and the UK-based Mountpark. Formed in 2014, it specialises in building logistics centre and is already engaged in projects in the UK, Poland, Czech Republic and Slovakia.