Fine Grain Property pays €6m for Kildare offices

Value of Irish investor’s portfolio increases to €180m with purchase of Maynooth block

Block C, Maynooth Business Park: Partially let to Capita Asset Services.

Block C, Maynooth Business Park: Partially let to Capita Asset Services.

 

Irish-owned business park investor and operator, Fine Grain Property, has increased the value of its portfolio to €180 million following the acquisition of Block C at Maynooth Business Park in Kildare.

While a spokesman for the company declined to comment on the value of the deal, it is understood Fine Grain paid around €6 million to secure ownership of the property.

Some 40,000sq ft of the building is occupied currently by global financial services firm, Link Asset Services, while the remaining 20,000 sq ft is in shell-and-core condition. Fine Grain is expected to invest a significant sum with a view to bringing it to the office rental market in early 2020.

Commenting on his company’s latest acquisition, Fine Grain head of property, Declan O’Connor, said: “One of our target areas is overlooked and underinvested properties, ones that we can work with our clients on, delivering high-quality workspaces that are tailored to their needs.

“Having already developed facilities next to universities and institutes of technology in Athlone, Galway, Limerick, Shannon, Dublin, and Cork, we were keen to be part of the thriving Kildare business community for some time. We’re delighted to be investing in this exceptionally well-connected location, close to Maynooth University.”