SALE
BNP Paribas Real Estate brokered the largest investment transaction of 2018 in the Irish market. We were introduced to the purchaser, Cheung Kong, through our banking network and understood well their criteria. Through our IIG network we were able to reach out to the vendor, Northwood and agree terms. HSQ is fully let to Ireland’s largest Telco, Eir on a 25 year lease (no break option) from July 2008. At a purchase price of €175 million, Cheung Kong enjoyed a net initial yield of 4.91% which increase in Q3 2018 to 5.76% due to a guaranteed uplift in rent. One & Two HSQ comprise of 20,265 sq m of grade A office with 204 basement car spaces situated 3 kilometre west of Dublin’s Central Business District.
