30th Jun 2016 12:35
LONDON (Alliance News) - Irish property investor Hibernia REIT PLC on Thursday said it has exchanged contracts to buy blocks 1, 2 and 5 at Clanwilliam Court in Dublin for EUR51.0 million.
The three blocks are 1970s office buildings totalling 93,700 square feet of space. They are located on the corner of Mount Street Lower and Clanwilliam Place in Dublin's central business district.
Having acquired Marine House for EUR26.5 million in March, Hibernia now owns four of the seven blocks which make up Clanwilliam Court.
"The transaction is consistent with our strategy of focussing on prime Dublin city centre office assets with asset management or development potential," said Hibernia Chief Executive Kevin Nowlan.
Hibernia REIT shares were up 3.5% to EUR1.32 Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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