Fine Grain Property has completed the sale of Hawthorn House at Plassey Innovation Campus in Limerick to the French SCPI Transitions Europe, managed by Arkéa Real Estate Investment Management, for an undisclosed price.
The 50,000 sq ft Grade A office building was developed by Fine Grain in 2019 and is fully let to General Motors and Kneat Solutions on long term leases.
Darragh Lennon, COO of Fine Grain Property, said: “The sale of Hawthorn House to a leading French institutional investor highlights the appeal of the Plassey Innovation Campus and Limerick as an investment location. At the Plassey Innovation Campus, we have created, over the past number of years, a workplace community where innovation is thriving and it continues to attract high quality international and Irish occupiers who want to access the talent from the University of Limerick. The transaction underpins our strategy to realise value for investors while further deepening market confidence in the Limerick office sector.”
Fine Grain was advised by Avison Young and Philip Lee. Arkéa REIM was advised by Sienna IM and Dentons.
