Ireland sells €500m of Treasury Bills by auction
The National Treasury Management Agency (NTMA) has today completed an auction of Irish Treasury Bills, selling the target amount of €500 million. Total bids received amounted to €2.1 billion which was 4.2 times the amount on offer. The Treasury Bills, which have a maturity of three months, were sold at an annualised yield of 0.105%.
Ardstone Capital make profit on D4 Property
David Carroll of Bannon has advised Ardstone Capital on their most recent Irish purchase of the Crampton Buildings in Temple Bar. The investment manager acquired the block for €8.2m representing an initial yield of 6.15% which is occupied by a range of leisure and retail users.
Retail Ireland welcomes new Retail Consultation Forum
Retail Ireland has welcomed the opportunity to participate in this week’s inaugural session of the Government’s new Retail Consultation Forum.
New office construction gearing up
Johnny Ronan was responsible for the vast majority of the large- scale office projects in Dublin in recent years including the 700,000sq ft Central Park; the 100,000sq ft high rise Monte Vetro sold to Google; the 200,000sq ft Connaught House and Bank of Ireland HQ on Burlington Road and the 400,000sq ft PwC and Fortis blocks at Spencer Dock along with the adjoining National Convention Centre.
Construction activity builds upwards according to recent PMI
Ulster Bank’s monthly construction purchasing managers’ index (PMI), a seasonally adjusted index designed to track changes in construction activity, posted a score of 60.2 points for May; down on the previous month’s 63.5 point reading but still ahead of the neutral 50-point mark which separates a sector in decline from one in growth mode. The rise in new business came from both domestic and external markets.
Bannon Acts for Hibernia Reit in €27.5m acquisition
Hibernia REIT has acquired a building on the Hanover Building at Windmill Lane in Dublin’s south docks and has also acquired an adjoining site for €27.5 million. It plans to redevelop both properties. The building generates €1.5 million in rent per annum, with the purchase price implying a net initial yield of 7.3 per cent.
