CBRE has been appointed property manager to the Central Park development in Leopardstown in south Co Dublin. The 64,583sq m (695,168sq ft) office, retail and residential development was sold in the first quarter to Green REIT, Kennedy Wilson and Pimco for a reported €311.5 million.

Central Park comprises five substantial office blocks, a retail building and a multi-family complex with 272 apartments. It produces a rent roll of €17.98 million per year, which is due to rise to more than €19.32 million when a number of rent-free periods run out. Some 77 per cent of the rent roll comes from commercial tenants, including Vodafone which pays an annual rent of almost €7.3 million, Tullow Oil, Salesforce Ireland and First Active Investments.

The complex was a Treasury Holdings project before coming under the control of Nama which made it its largest single Irish property asset to be offered for sale so far. Aidan Grimes, executive director of the property and asset management team at CBRE, said: "We are delighted to have been appointed as property manager to the prestigious Central Park development. It is a landmark site, in an excellent location, with the highest-calibre commercial tenants. The diversity and scale of the development will allow for proactive asset management to enable us to enhance returns for our clients. The appointment reaffirms CBRE's reputation as a premier property manager . . ."

CBRE has also added the Central Park development to its list of “global premier properties”. CBRE manages 235 of such properties around the world. The Central Park development joins the likes of the Gherkin in London, the Shanghai Tower and 1540 Broadway New York among many others on CBRE’s prestigious list.