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News Release

Dublin

2 Harbourmaster Place, IFSC, Dublin 1

Prime IFSC office investment sale


​On behalf of Ardstone Capital, JLL have successfully completed the sale of 2 Harbourmaster Place to German investor Real I.S. AG for a price in the region of €53.75 million.


The property comprised a high profile seven storey office building of approx. 5,522 sq. m. which was refurbished in 2016 to include a full overhaul of the main entrance, reception area, upper floor lift lobbies, new shower facilities, M&E improvements, roof upgrades and exterior landscaping.


The building was multi-let with a quality tenant line-up including KPMG, Wells Fargo, Bank of Montreal, Kleinwort Benson, United Health Group and Aspen Insurance.  The overall Weighted Average Unexpired Lease Term was 8.2 years.


The property was sold in a competitive off-market transaction and the sale price achieved is as result of the excellent management and re-positioning of the asset by Ardstone over the last 2 years through the lease re-gears and building refurbishment program.
Real I.S. is an experienced German fund and asset manager who entered the Irish market in 2015 and the acquisition of 2 Harbourmaster represents their third transaction in Dublin in that time.


Declan Sexton of JLL commented that "this sale is further evidence of the steady demand and commitment to the Irish market from established long-term core foreign investors"