Hibernia Reit acquires 0.75 acre freehold site in Dublin’s South Docks
Property investment company Hibernia Reit has exchanged contracts to acquire a 0.75 acre freehold site at 1-6 Sir John Rogerson’s Quay, Dublin 2 for € 17.75 million in an off-market transaction.
The site, which fronts onto the river and adjoins Hibernia’s recently acquired Observatory Building, has existing planning permission for 102,000 sq. ft. net lettable of offices, c. 5,000 sq. ft. of retail space, three residential units and 34 parking spaces.
With Hibernia’s Windmill Lane Site and Hanover Building immediately behind and the Observatory Building adjoining, the acquisition gives Hibernia ownership of a full riverside quadrant in the South Docks area, which has become one of the most popular office locations in Dublin in recent years.
This acquisition is Hibernia’s eleventh since listing on the Irish Stock Exchange in December 2013. Following completion of the acquisition of the site and its recent acquisition of The Forum building in the IFSC, Hibernia will have invested € 393 million, with a further € 63 million committed.
