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Green REIT buy Dawson property for E23m

Wednesday, August 20 10:23:45

Listed property investment group, Green REIT, today said that it has bought an office building at 13-17 Dawson Street in Dublin 2 for E23 million.

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, it said.

The building, with substantial frontage onto both Dawson Street and Molesworth Street, is one of Dublin's most prime city centre redevelopment opportunities and has the potential to accommodate a substantial redevelopment scheme which doubles the existing lettable 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."

The vendors were Joint Receivers Simon Coyle and Tom O'Brien (Mazars) for Shelbourne Properties in Receivership, with Patrick Curran of BNP Paribas Real Estate, handling the sale.

For more visit: www.businessworld.ie