Hibernia Reit buys Dublin docklands properties

Hibernia Reit yesterday said it had acquired two more properties in the Dublin Docklands for €4.6m. Both are on Lime Street in the South Docks area and are part of the strategic development zone designated by Dublin City Council.

The first property is a part-two storey and part-four storey premises spanning about 1,179sq m. It is located on the corner of Lime Street and Hanover Street East and has a passing rent of €110,000 per annum with just under a third of the floor space vacant. The purchase has been completed.

The second acquisition on 11, Lime Street, on which contracts have been exchanged, is a refurbished three-bedroom, four-storey house on 0.05 acres.