GRAFTON Group, a publicly quoted property company, has acquired the Rathmines Plaza Hotel, Dublin for £5.8 million from O'Dwyer Real Estate Company, on a sale and lease back basis.
The consideration is being financed by a non resource bank loan of £5 million and £0.8 million from internal sources. The rental agreement provides for an annual rent of £0.53 million over four years.
The agreement also includes a put option entitling Grafton to sell the property back to O'Dwyer Real Estate.
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