Latest news with #officeinvestment
Irish Times
16-07-2025
- Business
- Irish Times
Sandyford home of Grafton Group and Cubic Telecom seeking €24.2m
Agent HWBC has been engaged by Grant Thornton as receiver to find a buyer for The Hive, a fully refurbished office investment at the Sandyford Business District in south Dublin. The property – which was first put up for sale on behalf of Spectre, a joint venture involving U+I and US investor Colony Capital, for €34.4 million in 2022 – is being offered to the market now for €24.2 million. The Hive, which was known formerly as Ballymoss House, underwent a comprehensive refurbishment in 2019. The building comprises 6,785sq m (73,000sq ft) of grade A office space distributed over four floors, and comes with LEED Gold certification, an A3 Ber rating, and the highest WiredScore and CycleScore ratings. Located 500 metres from the Luas Green line stop at Sandyford and within a short drive of both the M50 motorway and the N11, the property also includes 114 car parking spaces, 96 cycle spaces and 12 EV charging stations. READ MORE The Hive is generating annual rental income of €1.95 million, with a weighted average unexpired lease term (WAULT) of 8.2 years to expiry, underpinned by a strong tenant line-up, which includes the global connectivity software specialist Cubic Telecom, the FTSE-listed Grafton Group, and the infrastructure investor and asset manager NTR plc. Should a sale of the property proceed at the guide price, the new owner would be in line for a net initial yield of about 7 per cent. [ French investor pays €47.2m for Smithfield office block Opens in new window ] Iain Sayer of HWBC says: 'The Hive is a prime example of the type of office investment attracting European capital today – long, secure income, blue-chip tenants, and best-in-class sustainability specifications. With strong occupier demand in Sandyford and an attractive yield profile, we expect interest from a wide range of investors.'
The Australian
08-05-2025
- Business
- The Australian
Glory Orient seeks $100m for Elizabeth Street gem
An Asian investment group is looking to sell an office block in Sydney's Elizabeth Street with hopes of near-$100m as the city's market swings back into favour. Office players are on the hunt for counter-cyclical plays and some are also chasing longer-term development opportunities. Sydney property circles are abuzz with talk that Lendlease is rekindling its interest in Shimao's 175 Liverpool Street, and Charter Hall is chasing a capital partner for 201 Elizabeth Street, where it is chasing a capital partner. The Elizabeth Street block, owned by Glory Orient Investments, has been held as an office investment since it was bought for $67m in 2014, and could be held as an office building ahead of any longer-term conversion play. The private Asian group wants to sell its long-held B-grade asset on the prominent corner at 75 Elizabeth Street. It has dual frontages to Elizabeth and King streets, and views that make it attractive to residential and hotel players. The building is also positioned in the heart of the financial core, allowing for a potential office play for investors chasing value-add investments. The property is surrounded by the city's major office towers, Westfield Sydney, and the Pitt Street Mall. The boutique B-Grade office building comprises 6141sq m of net lettable area across 15 storeys, with views over Hyde Park. It has access to the Supreme Court of NSW and the luxury King Street retail precinct, which houses flagship stores such as Tiffany & Co., Cartier, Chanel, Hermès, Dior, and Valentino. Real estate agency Savills is handling the building. 'The price point, corner position, location, intergenerational characteristics and value-add opportunities will be well received by the market, as investors recognise the scarcity of the offering,' sales agent Savills' Ben Azar said. Co-agent, Savills' Adrian Bokolis, said offshore private and institutional capital saw relative value in the Sydney office market when compared to alternate markets across Asia, Europe and the US. Ben Wilmot Commercial Property Editor Ben Wilmot has been The Australian's commercial property editor since 2013. He was previously a property journalist with the Australian Financial Review.
