UK-headquartered property giant commits €40m in debut investment involving purchase of offices at Citywest from Iput and Davy via IrishTimesBiz
The Waterside offices at Citywest Business Campus extend to 20,372sq m across five blocks and represent a key asset within Grosvenor Diversified Property Investments and Fine Grain Property's FGPO Ireland Fund IIIGrosvenor Diversified Property Investments has joined forces with Irish property investor and operator Fine Grain Property as part of its latest plan for expansion.
The company, a subsidiary of the UK-headquartered property giant the Grosvenor Group, has made it first investment with Fine Grain by committing €40 million to the FGPO Ireland Fund III, a fund dedicated to the provision of contemporary workplaces in business parks across Ireland. Grosvenor’s strategy will see it rely on Fine Grain’s specialised knowledge and its established local networks to make investment decisions in the Irish market.
Fine Grain completed its first purchase for the FGPO Ireland Fund III in February when it paid Irish property company Iput and Davy an undisclosed sum for Waterside, a development of five headquarter office buildings housing SAP, Fidelity, Glanbia and Hidden Hearing at Dublin’s Citywest Business Campus. Waterside, which covers 219,300sq ft, also holds planning permission for an additional three buildings, providing a further 180,000sq ft of space and scope for future expansion.
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