Ballincollig portfolio investment on sale for soldiers of fortune

A top office property portfolio investment, guiding at €24 million, goes to market this week in Ballincollig, Co Cork, for owners, US private equity group Blackstone. 

That company are also set to sell the iconic Elysian tower for over €100 million, having acquired it for c €60m, as part of a portfolio of O’Flynn Construction group assets via Nama’s ‘Project Tower’, investing €1.1bn, and with assets now being sold on profitably.

Guided at €24m and fully let, with a rent roll of €2.1m and with lead tenant VMWare, are six office buildings at the Ballincollig Office Campus, developed by O’Flynn Construction after it redeveloped the former Murphy Barracks, and rejuvenated the satellite town over a decade of mixed use,high quality development.