Blackrock International Land, the property group spun off from Fyffes last year, has added to its portfolio with the acquisition of land worth €14.65 million in Britain and Ireland.
In a statement yesterday, the company said it had acquired 120 acres of land at Corrstown, in north Co Dublin, and a further 1.7 acres of land directly adjacent to its existing property in the Thames Gateway area of east London.
These latest investments bring Blackrock's property assets to more than €430 million, an increase of almost 120 per cent since the group listed just over 12 months ago.
They also come less than a fortnight after Blackrock outlined the details of a joint venture to develop property in London's City financial district.
Carl McCann, Blackrock's chairman, yesterday welcomed the new additions to the portfolio, but said that Blackrock would continue to pursue its goal of acquiring further "attractive properties".
At the time of its maiden results announcements in February, Blackrock said it was aiming to invest as much as €1 billion over the next four to five years.
The British land brings Blackrock's holding in the Thames Gateway - an area currently undergoing a significant transformation ahead of the 2012 Olympic Games - to about 15.5 acres.
Subject to planning permission, the site has the potential for mixed-use redevelopment, primarily in the residential sector, the company said.
In Ireland, the Co Dublin land off the new M2 Dublin-Ashbourne motorway is, according to Blackrock, well placed to take advantage of the significant development expected to take place in the area in the next few years.
Shares in Blackrock were unchanged at 51 cents yesterday in a very quiet Dublin market.
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