UK life assurer and asset manager Abrdn has sold its office investment Fleming Court, off Baggot St, Dublin 4, for around its €18m asking price.

That equated to an underlying capital value of about €613 per sq ft.

The purchaser, French investment firm Sofidy, already acquired 76-78 Harcourt Street and Fitzwilliam Hall, both located in Dublin 2, last year.

Fleming Court’s tenants include Signal Education, St James Place International and Sparkasse Bank Malta.

It has €883,000 in contracted income per annum and the potential to grow this to €1.45m.

Last year a letting in the building achieved €50 per sq ft.

TWM handled the sale while BNP Paribas Real Estate acted on behalf of the purchaser.

Press Release Contact: 

Ellen Browne, Business Coordinator

BNP Paribas Real Estate Ireland
BNP Paribas Real Estate Ireland