7th May 2015 08:42
LONDON (Alliance News) - Property investor Hibernia REIT PLC on Thursday said it has acquired two properties in the South Docks area of Dublin for EUR4.6 million.
The properties, 8/9 Hanover Street East and 11 Lime Street, are both located on Lime Street in the Block 11 strategic development zone of the area. 8/9 Hanover Street East currently produces annual rental income of EUR110,000, while 11 Lime Street is a refurbished three-bedroom house.
"We are delighted to have agreed these two transactions in Dublin's South Docks, one of which was executed off market. They are located close to our quadrant of assets at Windmill Lane and position us well to participate in the regeneration of the area," said Kevin Nowlan, chief executive of WK Nowlan REIT Management Ltd, the investment manager for Hibernia REIT.
Shares in Hibernia were down 1.2% to EUR1.21 on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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