22nd Jul 2015 08:09
LONDON (Alliance News) - Property company Development Securities PLC on Wednesday said it has struck a EUR6 million deal to acquire the Avid building in the Sandyford area of Dublin.
The purchase price reflects a net initial yield of 12.75%.
The building comprises 42,000 square foot of office and warehouse space and is fully-let to Avid Technology International BV until April 2017.
"The Avid building is well-located, well-connected to the rest of the city, and offers strong redevelopment potential. We look forward to bringing forward an exciting new development in this established area of Dublin," said Development Securities Chief Executive Matthew Weiner.
Shares in Development Securities were down 1.4% to 270.25 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
DSC.L