Green REIT Plc acquires Dublin CBD office building (IE)

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