Hibernia Reit completes sale of New Century House for €65m

Property firm bought IFSC building for €47m in 2014

New Century House in the IFSC.

New Century House in the IFSC.

 

Hibernia REIT has completed the sale of New Century House in Dublin’s IFSC for €65.3 million to a fund managed by Credit Suisse Asset Management Global Real Estate.

Contracts for the deal were exchanged in July.

The property investment firm bought the property, which is fully let to Bank of Ireland, for €47 million in March 2014.

New Century House comprises 80,000 sq ft. of offices with basement storage areas and parking, and produces rental income of €2.9 million per annum.