French fund MNK Partners has acquired Block 5 of Richview Office Park for its Europe+ fund from Eagle Street Partners for just under €10 million.
Located in Clonskeagh, Dublin 14, Block 5 is a three-storey detached unit with 2,345sq m (25,245sq ft) of office space and 63 surface parking spaces. Following refurbishment works by the vendor the building has achieved an A3 Ber rating and a new landscaped area has been added to the grounds.
Richview Office Park is off the Clonskeagh Road, approximately 4km south of Dublin’s prime central business district. It forms part of the larger Clonskeagh business park hub.
“Block 5, Richview Office Park represents a high-quality, long-income investment to a blue-chip tenant in a fully refurbished A-rated office,” said Kevin McMahon of Savills, who acted on behalf of MNK Partners. “We look forward to continuing our relationship with MNK Partners and supporting them on further investments in the Irish market.”
Patricia Ward of TWM, who acted on behalf of the vendor Eagle Street Partners, said: “It was a pleasure to work with the Eagle Street team to complete this successful sale. A rare opportunity in this market combining WAULT, covenant and specification.”
“We at Eagle Street Partners take pride in our developments and a project like Richview showcases our expertise,” said company founder and chief executive Shane Scully. “Successfully delivering an A-rated building for the institutional market with an occupier in situ to a budget with a restricted time frame is something to be proud of.”
