Savills Ireland has announced the acquisition of 21 Charlemont, Dublin 2 on behalf of La Française Group – a French-based asset management firm with €64bn in assets. The forward purchase agreement, which was completed in the region of €45m, represents La Française Group’s first entry into the Irish market.
Situated in the heart of Dublin’s central business district overlooking the Grand Canal, the Grade A property comprises 37,000 ft² of office space in a 6-storey over basement office building. Its corporate neighbours include a whole host of multinationals, including Zendesk, Google, Amazon, KPMG, Deloitte, MetLife and Accenture.
21 Charlemont – developed by Rohan Holdings – was one of the first speculatively developed Dublin office buildings to proceed in the current cycle. The project commenced in April 2015 and is due for completion in the coming days. It was announced in June that the building has been fully pre-let to communications company, ViaSat at a rate of €55 per ft²
Brendan Delaney of Savills Ireland comments: “We’re delighted to have represented La Française Group in their entry to the Irish market. 21 Charlemont is a quality asset with the benefit of a pre-let agreement to a reputable multinational firm. The buildings central location, and the variety of transport links and amenities on its doorstep, provided prospective buyers with a rare opportunity to acquire one of Dublin’s best new-builds. We look forward to continuing our relationship La Française Group and supporting them on any further investments in the Irish market.”
La Française is 92% (as at 16/03/2017) owned by Credit Mutuel Nord Europe (CMNE), a banking and insurance group present in Northern France and Belgium. It has a multi-affiliate business model organised around four core activities: real estate, securities, investment solutions and direct financing. With 566 professionals and offices in Paris, Frankfurt, Geneva, Greenwich (CT, US), Hong Kong, London, Luxembourg, Madrid, Milan, Seoul and Singapore, La Française manages over €64bn in total assets, of which over €15bn are real estate assets.