Construction BUSINESS

Hines and Peterson Group Acquire Landmark Dublin Properties

 Breaking News
  • Opening of Stephenstown Link Road in Balbriggan The Stephenstown Link Road, constructed by Jons Civil Engineering, has been officially opened with Mayor of Fingal Cllr Anthony Lavin cutting the ribbon on this key piece of infrastructure development within Balbriggan. The new Link Road in Stephenstown Industrial Park runs from the existing roundabout on the Stephenstown Road to a new roundabout on Clonard Street Road, [...]...
  • The UK National Construction Expo – The Arena MK, Milton Keynes – 1st May 2019 The UK National Construction Expo is being held at the Arena MK, Milton Keynes in England on Wednesday, 1st May 2019. Although British construction activity overall has slowed, chiefly due to businesses continuing to postpone major building projects due to Brexit uncertainty, which is impacting the commercial construction and civil engineering sectors, house building remains buoyant. Of [...]...
  • Key Advisor Line-up For Waterford North Quays and Michael Street Development Projects Falcon Real Estate Development Ireland, the company that is backing the Waterford North Quays and Michael Street development projects, has appointed its key advisors including the leasing agency and design team for the project. Cushman & Wakefield, a leading global real estate service firm, has been appointed as the leasing agency for the entire North Quays [...]...
  • Ballymun’s Potential as a European Leader in Housing Planning and housing experts have examined Ballymun’s potential as a European leader for innovative housing development, as part of the recent Vienna Model of Housing exhibition in Dublin. Previous planning within the Ballymun area indicates a lack of consideration for community development, with no main street or community focal point currently present. Dublin City Council’s local [...]...
  • 200 Construction Jobs at Johnson & Johnson Vision Care Limerick Facility Approximately 200 workers are expected to be employed in the construction phase of Johnson & Johnson Vision Care’s planned €100 million expansion of its manufacturing operations at its site in the National Technology Park, Plassey, Limerick. The project is supported by the Irish Government through IDA Ireland. IDA Ireland CEO Martin Shanahan said: “This is a significant announcement. Already [...]...

Hines and Peterson Group Acquire Landmark Dublin Properties

Hines and Peterson Group Acquire Landmark Dublin Properties
January 23
12:27 2017

Real estate companies Hines and Peterson Group have entered a partnership to acquire two iconic Dublin properties – the Central Bank buildings on Dame Street and 2 Grand Parade in Dublin 6, it was announced on Tuesday. These two prime acquisitions represent Peterson Group’s first investments in Ireland and also its first partnership with Hines.

Hines and Peterson Group are currently considering future plans for the Central Bank buildings ahead of taking control of the property. The main building was constructed in 1978 and designed by architect Sam Stephenson. The sale includes the adjoining Annex, Commercial Buildings and 6-9 College Green.

“We are delighted to be partnering with Peterson Group on their first dealings in the Irish market,” Senior Managing Director of Hines Ireland, Brian Moran said. “Given their enviable locations and potential, the Central Bank buildings and 2 Grand Parade both represent excellent investments for Hines Ireland and the Peterson Group. These are two high-quality commercial office spaces in their own right while we also recognize their huge historical significance to the Capital.  Hines and Peterson Group look forward to bringing together our international expertise and shared vision with a view to the further long-term enhancement of these unique buildings.”

Originally constructed in 1962, 2 Grand Parade was the former headquarters of PJ Carroll’s Cigarette Company and subsequently Irish Nationwide Building Society, but is now fully leased to Amazon. The 1.7 acre site includes an office building comprising eight stories and a floor space of 52,000 square feet and benefits from a highly convenient location adjacent to Charlemont LUAS stop, which is just a short journey from St. Stephens Green.

Tony Yeung, Managing Director for Peterson Group said: “Peterson is excited about its first investments in Ireland together with Hines. Dublin has been performing strongly after the Global Financial Crisis and we see these investments as strategic expansion for our European portfolio.  The group continues to seek opportunities throughout Europe and treasures relationships with solid partners who are specialists in their sectors.”

About Author

admin

admin

Related Articles


Constrcution Summit

PROMO – Construction Summit 2016 – Sustaining the Momentum

Lean Construction Ireland – Enhancing Ireland’s Competitive Advantage

The Magazine – Construction Business

The Magazine – Construction Summit 2016

The Magazine – Construction Summit

Upcoming Events

  • No upcoming events
AEC v1.0.4

New Subscriber

Subscribe Here



Advertisements