Hibernia REIT eyes further acquisitions

Hibernia REIT [real estate investment trust] expects the unprecedented level of sales in the Irish commercial property market to continue to drive strong performance for the investment trust in 2015.

Hibernia yesterday posted interim results for the six months to the end of September in which it invested €319m and committed a further €78m in 12 Dublin-based property transactions; bringing the total invested and committed to €476m.

Total property income was €5.6m, which combined with revaluation gains drove total income of €34.5m with operating expenses leaving operating profit and pre-tax profit of €31.9m.