The SOFIDY management company of the Tikehau Capital group, and the leading independent player in the real estate savings market, is pursuing its development strategy on a European scale with the acquisition of a second exceptional real estate asset in Dublin, Ireland. The acquisition of the Fitzwilliam Hall office building from Henderson Park was carried out on behalf of the savers of the SCPI SOFIDY Europe Invest, IMMORENTE, EFIMMO 1 and the OPCI SOFIDY Pierre Europe.
The Fitzwilliam Hall building enjoys a prime location at the entrance to Dublin's CBD, popular with iconic companies like LinkedIn EME, Amazon, Bank of Ireland, etc. Located on the corner of Wilton Terrace and Lesson Street, the building is central, close to Fitzwilliam Square Park and Saint Stephen’s Green, and next to the Grand Canal. It also benefits from very close proximity to public transport (bus, tram and rail lines).
This investment consists of two exceptional Georgian-style buildings, the whole covers an area of 2,857.5 m² for office use. The first building "Fitzwilliam Hall" built in 1985 is divided between a basement and 4 upper floors connected on each floor to the second building "25 Fitzwilliam Place", a former Georgian building. The building also has a private courtyard and parking. The building is also classified B3 of the Building Energy Rating (BER)
Fitzwilliam Hall has been fully occupied since 2007 by Glandore Business Centres Limited. This Irish family company created in 2001, offers flexible office space and hosts many European and international companies
The acquisition price of €30.35million allows the new investor, Sofidy, enjoy NIY of 4.2%.
Jean-Marc PETER, CEO of SOFIDY said: "SOFIDY's strategy is to invest in the heart of European cities and capitals. This second acquisition represents an opportunity to access an exceptional asset and take advantage of the economic dynamism of Dublin while respecting the prudent and selective diversification approach that we have applied for more than thirty years now on all of our real estate funds”
BNP Paribas Real Estate acted on behalf of the purchaser while Eastdil Secured represented the vendor.
Press Release Contact:
Ellen Browne, Business Coordinator
E: Ellen.browne@bnpparibas.com
