CBRE has sold the Iveagh portfolio of four prime Dublin offices to buyers including Irish investor IPUT and real estate firm Knight Frank.
CBRE has sold the Iveagh portfolio of four prime Dublin offices to buyers including Irish investor IPUT and real estate firm Knight Frank.
Knight Frank is understood to have bought Molesworth House and Verschoyle House for a combined total of €12 mln. The two, five-story buildings cover 2,500 m2 between them and have a renal income of just over €1 mln per year.
Davy Property bought the 2,000 m2 Pembroke House for €7.9 mln. It has a rent roll of €500,000.
And 46 St Stephen´s Green, a 1,300 m2 asset with an income of €530,000 per year, is believed to have been bought by IPUT (Irish Porperty Unit Trust). The sale price was not disclosed.
The assets are all in Dublin 2, with net initial yeilds ranging from 5% to 10%.