Receivers Grant Thornton launch formal sale of 11 RGRE assets including Bewley’s Grafton Street premises and Connaught House
Connaught House, Burlington Road, Dublin 4 comprises a five-storey over-basement grade A office block of 117,000sq ft. The building is let to a strong tenant line-up that includes Macquarie Aviation and Alkermes and is producing rent of €7 million per annum
The proposed sale is taking place after RGRE consented last November to AIB and Bank of Ireland’s appointment of receivers with a view to recovering €130 million in loans secured against the assets. The country’s two pillar banks acquired the loans for their part from M&G Investments in 2022 at a time when the overall portfolio carried a value of some €300 million.
Located on Burlington Road in Dublin 4, Connaught House comprises a five-storey over-basement grade A office block of 117,000sq ft. The building is let to a strong tenant line-up that includes Macquarie Aviation and Alkermes and is producing rent of €7 million per annum. The weighted average unexpired lease term to expiry is 4.46 years.
Grant-Thornton Savills Grafton-Street Bewley-S Aib Bank-Of-Ireland Lush Permanent-Tsb
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