Property advisers CBRE and Knight Frank are to market the Platinum Portfolio, a package of office buildings in Dublin city centre.
Property advisers CBRE and Knight Frank are to market the Platinum Portfolio, a package of office buildings in Dublin city centre.
Irish bad bank NAMA is guiding €120 mln for the portfolio though investors will be able to bid on individual assets.
The Platinum Portfolio includes the Bloodstone Building on Sir John Rogerson’s Quay; Block B, Riverside IV on Britain Quay; Grand Mill Quay on Barrow Street and Hume House on Pembroke Road.
CBRE said that this is one of the most significant property investment sales in Ireland so far this year.
The sale, on behalf of administrators Paul McCann of Grant Thornton and Declan Taite of RSM Farrell Grant Sparks, includes four office blocks all of which are located in prime city centre addresses, spanning the south docklands to Ballsbridge in Dublin 4.
The portfolio offers a combination of long and short term income as well as new letting opportunities and is positioned to benefit from the declining supply of quality accommodation and the recovery in the Dublin office market, according to the property advisers.
With a total area of 29,700 m2 the sale offers investors an opportunity to acquire a significant foothold in the Dublin market and is likely to appeal to both existing international and domestic investors as well as new entrants.
