REO completes sale of Montevetro to Google for EUR 99.9m

Real Estate Opportunities, the real estate investment and development group active in Ireland and the UK, announced on Monday that it has completed the sale of Montevetro, Dublin's tallest commercial office building, to Google for EUR 99.9 mln. The sum is being satisfied in cash.

Discussions between the Company's investment adviser, Treasury Holdings, and Google began in early 2010 about Google taking a lease of the building, but developed into discussions for an outright sale late last year.

REO's development of the landmark 15-storey building, which commenced in March 2008 and completed in January 2011, comprises 19,500 m² of prime office space in Grand Canal Dock, Dublin 2. The three basement levels provide 80 car parking spaces and extensive additional bicycle and motor cycle spaces. The building, which reaches 67 metres, offers easy access to St Stephen's Green, Baggot Street, the IFSC and Spencer Dock.