Fine Grain Property has completed the off-market sale of Hamilton House II, located within the Plassey Innovation Campus, Limerick for €14m.
Hamilton House II, acquired in 2018, was fully let at the time of acquisition and has since been transformed through strategic asset management. This included re-letting the entire property to H&MV Engineering under a long-term FRI lease. Targeted enhancements and capital investments have upgraded the building to institutional standards, making it an attractive asset for buyers like the investment fund managed by Inter Gestion REIM.
Fine Grain Property’s experienced team seeks to identify commercial properties across Ireland which will benefit from proactive asset management to improve facilities, enhance ESG performance, and enable sustainable workplace communities. Through these activities, Fine Grain Property creates institutional-grade investment properties which generate stable, long-term rental income, and help employers to better attract and retain highly educated employees.
The company’s portfolio includes c. 12ha of commercial real estate across 18 buildings, hosting over 65 global employers nationwide, and providing workspaces for over 10,000 employees across Ireland.
Kevin Mahony, Chief Financial Officer of Fine Grain Property, said: “The sale of Hamilton House II demonstrates the value of our active asset management strategy. By aligning the property with the needs of high-quality tenants like H&MV Engineering and investing strategically in improvements, we have successfully transformed and disposed of this asset to deliver strong returns for our investors.”
Arnaud Billon, Head of Investments of Inter Gestion Group, commented: “Purchasing Hamilton House II with our newest fund is a significant step forward in the global asset diversification strategy developed with CRISTAL Life SCPI. Launched in 2021, this real estate fund aims to deliver strong performances by targeting assets across a variety of dynamic industries, including the food chain value, advanced engineering, and the health market. Getting to host H&MV Engineering as a new tenant and adding such a beautifully transformed building in our portfolio, was an opportunity of diversification we are thrilled to offer to our investors.”
Fine Grain Property was advised by Fergal Burke and Artem Makarevitch at Avison Young (Commercial) and Sandra Egan at Holmes (Legal). Cristal Life SCPI / Inter Gestion REIM were advised by Conor Treacy at William Fry (Legal) and Tony Grant at GIA Surveyors (Technical).
Image source - Fine Grain Property.
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