Green REIT Plc, the Irish property investment company, confirms that it has exchanged unconditional contracts to acquire an office building at 13-17 Dawson Street in Dublin 2 for €23 million (€23.7 million inclusive of estimated acquisition costs). The acquisition, when completed, will be in line with the Company’s stated objective to assemble a portfolio of prime and good quality secondary properties with a Dublin focus.
The building, with substantial frontage onto both Dawson Street and Molesworth Street, is one of Dublin’s most prime CBD redevelopment opportunities and has the potential to accommodate a substantial redevelopment scheme which doubles the existing let-able area, subject to planning permission.
Pat Gunne, Chief Executive, Green Property REIT Ventures commented: “This acquisition presents us with another very exciting Dublin city centre redevelopment opportunity in the heart of Dublin’s CBD, at a time when there is a stark shortage of supply of quality office space in the city centre.”
Source: Green REIT Plc