Hibernia REIT recruits new development head from Irish bad bank

Hibernia REIT, an investor focused primarily on central Dublin offices, is recruiting its new development chief from Irish bad bank Nama.

Mark Pollard joins Hibernia as director of development in early May. He will also become a member of the REIT's executive committee. Pollard has been with Nama for six years, and was a senior divisional manager heading Dublin's Docklands Strategic Development Zone.

Announcing the appointmernt, Hibernia noted Polland was responsible for a number of development assets in Dublin and London. Previously he held senior development roles at Treasury Holdings and Asda Property Holdings. He qualified as a chartered surveyor with Jones Lang Wootton (now JLL) in London.

Hibernia CEO Kevin Nowlan said: 'Mark has a wealth of development experience both in Ireland and in the UK and we are delighted he is joining Hibernia to oversee the delivery of our exciting pipeline of projects in Dublin’s city centre.'

Hibernia is listed on the Irish and London Stock Exchanges. its business model is to acquire and hold Irish commercial property. The main focus is on offices in central Dublin, including the docklands.

At end-November 2015, the company's €739 mln portfolio consisted of 21 properties, including 12 completed office assets. Offices accounted for 83% of the portfolio by value, with the rest divided between residential (15%) and logistics (2%). Within the office segment, holdings in the south docklands accounted for 15% of the portfolio by value.