Green Reit buy Sun Alliance building for €23 million

The news that Green REIT Plc has acquired the former Sun Alliance building — at nos 13-17 Dawson Street, in Dublin 2, for €23m — bodes well for the city’s crane count.

The pivotal office block, with frontage onto Dawson Street and Molesworth Street, and which is currently tenanted on a short-term basis, is earmarked for immediate development by the Irish property investment fund.

The prime Dublin city centre site is ripe for “a shiny new modern building” on the site, says a spokesperson. It’s expected the five-storey block will be doubled in size — up to 20,000sqm, depending on planning — and would tap into unslaked demand for prime, inner-city office space in the capital.