French investment firm Sofidy scores hat trick of Dublin offices

UK life assurer and asset manager Abrdn has sold its office investment Fleming Court, off Baggot St, Dublin 4, for around its €18m asking price.

That equated to an underlying capital value of about €613 per sqft.

The purchaser, French investment firm Sofidy, already acquired 76-78 Harcourt Street and Fitzwilliam Hall, both located in Dublin 2, last year.

Fleming Court’s tenants include Signal Education, St James Place International and Sparkasse Bank Malta.

It has €883,000 in contracted income per annum and the potential to grow this to €1.45m.

Last year a letting in the building achieved €50 per sqft.

TWM handled the sale while BNP Paribas Real Estate acted on behalf of the purchaser.

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