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PROPERTY INVESTMENT FIRM Hibernia REIT has paid €17.75 million for a 0.75 acre site at John Rogerson’s Quay in Dublin’s docklands.
The freehold site, which fronts onto the Liffey, has existing planning permission for 102,000 square feet of offices, 5,000 square feet of retail space, three residential units and 34 car parking spaces.
The acquisition is Hibernia’s eleventh since listing on the Irish Stock Exchange in December of last year.
The deal gives the investor full control of a riverside quadrant in the South Docks: the site backs on to Hibernia’s Windmill Lane site (once home of the famed ‘U2 Studio’), while the Observatory Building also adjoins.
It’s Hibernia’s eleventh high-profile acquisition, and its second in recent days — it also paid €37.8 million for The Forum building in the IFSC.
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Today’s announcement brings their total spend on Dublin property to €393 million.
An aerial photo from a 2012 brochure advertising The Forum [Source: Knight Frank]
Hibernia, an Irish Real Estate Investment Trust (REIT) is concentrating on snapping up assets in the city centre.
It’s understood the firm it keen to take advantage of any opportunities presented by Nama’s planned development of the docklands area.
The trust has also bought up another three office blocks in the IFSC and two more on the south side of the river.
“We have now assembled a full riverside block of property with exciting, planning-approved development opportunities in the vibrant and rapidly regenerating South Docks area,” a spokesperson said of today’s deal.
“We are looking forward to progressing our plans and providing high quality central Dublin office space for tenants at a time when such space is in short supply.”
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I was down shooting some video on the Luas tracks at the IFSC and was told to stop as I was on private property. Same happened in front of the public library in Tallaght. Any chance we could stop selling our city centre to developers who will just build more offices and apartments in prime locations in the city?
Any chance people could go five minutes having to film or photograph everything? You can’t get on a bus now without worrying that somebody is tweeting a photo of you.
Well when your a film student you have to film things. With cameras, not phones. With footage that does not go on Twitter. On streets. In a city. That should belong to the public. If you’re worried about people tweeting pictures of you you either have an incredible vision of your self worth, or you worry too much.
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