Case Study
28 Fitzwilliam, Dublin 2
Investment Sale
Address
Hambleden House
19-26 Pembroke Street Lower
Dublin 2
D02 WV96
Ireland
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Contact Us
Phone: +353 (1) 6477900
Fax: +353 (1) 6477901
Email: info@bannon.ie
The Task
Following the successful delivery of multiple roles within Project Fitzwilliam for the ESB including design selection, design development, valuation and appraisal and in conjunction with the letting role, Bannon were appointed as joint sales agents for 28 Fitzwilliam.
The Skills
The key platform for sale were the unique sustainability credentials delivered by the asset along with the quality of the lease income. Agents carried out a full public marketing campaign utilising the full array of marketing tools including press advertisements, marketing website, video, IM and sales data room to convey the asset attributes. The public campaign for the “The Property” culminated numerous bids from European and US institutional investors.
The Result
The ESB entered into exclusivity with Amundi, a major French fund who had never invested in Ireland before. A protracted period followed with the purchaser ultimately signing forward purchase contracts at a benchmark yield level of 3.95% in December 2020. Contracts closed following practical completion of the property in December 2021.