It is reported that a distressed property portfolio including retail parks in Dublin, Kildare and Limerick is being sold by Danske Bank, through agent Sherry Fitzgerald, for €135-140 million. The portfolio, known as Project Arc, includes Fitzwilliam Hall, a modern Georgian-style building overlooking the Grand Canal, and produces a reported rent roll of €800,000 per annum. It is reported that Green REIT, Ireland’s first property investment trust, is keen to buy the portfolio having raised €310 million in a share placement earlier this year.
A portfolio of 25 buildings developed by one of Ireland’s biggest property developers, Liam Carroll is reportedly attracting a strong level of bids. The Ulysses Portfolio, marketed by estate agent Jones Lang LaSalle, is a portfolio of 25 properties located within central Dublin. The properties reportedly comprise a mix of single and multi-let offices, a variety of retail units and apartments, amounting to a total floor area of approximately 546,500 sq. ft. The portfolio reportedly has a strong weighting towards Government / Semi-State tenants with over 53% of the passing rent attributable to them. The agent advertises that the portfolio provides a current rental income of €13.94m per annum. The €140m price-tag represents an income yield of 9.53% and an overall rate per sq. ft. of €256.