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“Power Property Handle Major Office Investment Sale”

Posted on 13 June 2018
“Power Property Handle Major Office Investment Sale”

A high profile office portfolio developed by Brookvale Group has been sold, the portfolio is the largest office investment sale to be completed in the Mid-West Region of Ireland for several years, the portfolio which was brought to the market with a guide price of €25m, has been acquired by Fine Grain Property.

The Plassey Portfolio comprised a modern office Investment of 3 prime grade A office buildings located at Limerick’s premier business park, and the largest business park in the mid-west region, the National Technological Park, with an adjoining site with full planning permission for a new office block of 55,000 sq. feet.

Power Property acted as letting agents for the development since its development and secured some of Limerick’s major corporates such as Northern Trust, Cook Medical, Enet, QAD, Gilt Groupe DAA and Icon into the portfolio, and were appointed by Brookvale Group to offer the portfolio to the market in Q3 2017.

The Portfolio is located on Landmark Site in the National Technology Park with a Site Area of approximately 11 Acres, and the total built portfolio extends to net floor area of 133,432 sq. feet. The total passing rent from the portfolio was in excess of €1,900,000 per annum and is the largest office investment sale in 2018 in the Mid-West Region.