Office landlord Hibernia has the ‘firepower’ for more deals but no interest in bid for rival Green Reit

Hibernia Reit, the country’s largest stockmarket-listed office landlord, still has “the firepower” to make further significant acquisitions in Dublin, but has all but ruled itself out in pitching for rival Green Reit which had put itself up for sale.

Chief executive Kevin Nowlan was talking after the property firm — which is a major supplier of office space in the Docklands and central Dublin — posted a 15.8% increase in profits to €124m in the year to the end of March, as rental income rose 16.6% to €53.3m.