Publicly quoted property investment fund Hibernia REIT has said a number of companies have shown interest in the majority of vacant space remaining in its commercial property portfolio in central Dublin.

Property firm Hibernia Reit said it has the resources to spend on growing its office holdings and may seek to expand its buy-to-let residential holdings.

Shares in Hibernia REIT dipped marginally by 1.01% on the Irish Stock Exchange yesterday as it released its latest trading update covering the period to the end of June 2016.

Publicly quoted property investment fund Hibernia REIT is targeting a 50% increase in total rent roll over the next two years, which would lift its rental income from nearly €40m to €60m.

The developers of the site where U2 recorded some of their albums have failed in their battle with Dublin City Council over a disputed Luas Red Line payment of almost €500,000.

A highly active year drove strong earnings growth and profitability for property investment company Hibernia Reit.

Hibernia REIT has proposed a move that would see it directly employ its current management team if approved by shareholders.