UK life assurer and asset manager Abrdn has sold its office investment Fleming Court, off Baggot St, Dublin 4, for around its €18m asking price.
That equated to an underlying capital value of about €613 per sq ft.
The purchaser, French investment firm Sofidy, already acquired 76-78 Harcourt Street and Fitzwilliam Hall, both located in Dublin 2, last year.
Fleming Court’s tenants include Signal Education, St James Place International and Sparkasse Bank Malta.
It has €883,000 in contracted income per annum and the potential to grow this to €1.45m.
Last year a letting in the building achieved €50 per sq ft.
TWM handled the sale while BNP Paribas Real Estate acted on behalf of the purchaser.
Press Release Contact:
Ellen Browne, Business Coordinator
ellen.browne@bnpparibas.com
