ACQUISITION
The acquisition represented Sofidy’s first entry into the Irish Investment market in Q3 2021. The building formed part of the Green REIT portfolio acquired by Henderson Park in 2019 which was subsequently broken into a number of individual lots for sale. 76-78 Harcourt Street is a five-storey over lower ground floor modern office building with a mid-terrace neo Georgian façade extending to c. 2,317 m² with 24 on site car spaces and enjoys views into the Iveagh Gardens to the rear of the property. It is fully let to the Office of Public Works until 2027. Currently the passing rent is €1.01 million per annum. At a purchase price of €21.2 million, Sofidy enjoy a NIY of 4.33%.
