Fine Grain Property has sold the Hamilton House II office building at Plassey Innovation Campus, Limerick, to an investment fund managed by Inter Gestion REIM for €14m.
Fine Grain acquired the asset in 2018 and has since undertaken a strategic asset management programme, which included re-letting the entire property to H&MV Engineering on a long-term FRI lease.
Kevin Mahony, chief financial officer of Fine Grain Property, said: “The sale of Hamilton House II demonstrates the value of our active asset management strategy. By aligning the property with the needs of high-quality tenants like H&MV Engineering and investing strategically in improvements, we have successfully transformed and disposed of this asset to deliver strong returns for our investors.”
Arnaud Billon, head of investments of Inter Gestion Group, added: “Purchasing Hamilton House II with our newest fund is a significant step forward in the global asset diversification strategy developed with Cristal Life SCPI. Launched in 2021, this real estate fund aims to deliver strong performances by targeting assets across a variety of dynamic industries, including the food chain value, advanced engineering, and the health market.
“Getting to host H&MV Engineering as a new tenant and adding such a beautifully transformed building in our portfolio, was an opportunity of diversification we are thrilled to offer to our investors.”
Fine Grain Property was advised by Avison Young and Holmes and Cristal Life SCPI/Inter Gestion REIM was advised by William Fry and GIA Surveyors.
