Hotel group buys office block in O'Connell Street

DUBLIN-based Regency Hotel Group has completed the purchase of a 42,000-square-foot office block occupied by Fingal County Council…

DUBLIN-based Regency Hotel Group has completed the purchase of a 42,000-square-foot office block occupied by Fingal County Council at O'Connell Street, Dublin 1. The company paid about £4.6 million for the building. The space is occupied under two leases, which do not expire until the year 2010. Fingal County Council, which is paying a rent of £384,000 for the block, plans to build a new headquarters in Swords within the next three years. Jones .Lang Wootton handled the sale for the Irish Airline Pilots Pension Fund. Meanwhile, Atari Expo, the video games company, is to pay a rent of £70,000 per annum for a new unit at Omni Park Shopping Centre, Santry, Dublin 9. The company is to occupy 1,600 square feet on the ground floor and 3,500 square feet at first floor level. Jones Lang Wootton acted for the landlords.