Quinlan Private has bought the Eircom Headquarters in Dublin in one of the biggest sale and leaseback deals this year
The private equity firm has paid more than €190m (£128.5m) at a yield of 4% for the nine-story building opposite Dublin’s Heuston Station. Osprey Property, the property development arm of Eircom, sold the 209,898 sq ft (19,550 sq m) building which is under construction and will be finished in March 2008. Eircom has agreed a 25 year lease at a yearly rent of €8m (£5.41m).
The Eircom building is next to Westgate development and is part of a ‘new urban gateway quarter’ in the city. Jones Lang LaSalle acted for Eircom.