Private equity company Quinlan Private has purchased the Dublin headquarters of Irish telecoms group Eircom for more than EUR 190 mln in one of the largest sale and leaseback deals in the Irish capital this year. Eircom has agreed a 25-year lease at a annual rent of EUR 8 mln, and Quinlan Private said the sale price reflected an initial yield of over 4%.
Private equity company Quinlan Private has purchased the Dublin headquarters of Irish telecoms group Eircom for more than EUR 190 mln in one of the largest sale and leaseback deals in the Irish capital this year. Eircom has agreed a 25-year lease at a annual rent of EUR 8 mln, and Quinlan Private said the sale price reflected an initial yield of over 4%.
The 89-storey building, designed by Anthony Reddy Associates, has approximately 20,000 m2 of office space and parking for 190 cars. Due for completion in March 2008, the building is located beside Dublin's mainline Heuston Station where a new 'urban gateway quarter' is also being developed. Jones Lang LaSalle sold the headquarters on behalf of Osprey Property, the property development arm of Eircom. Quinlan Private was advised by HT Meagher O'Reilly.
