Eircom Agrees to EUR 190 Million Sale Leaseback of Dublin HQ

Eircom.net - December 8, 2006

Quinlan Private has announced it has concluded a deal to buy the new Eircom headquarters and lease it back to the telecommunications company. The investment group said it paid €190 million for the building, which is one of the anchor tenants in the new Heuston South Quarter development. Quinlan Private said the initial net yield is over 4 per cent. Eircom said it will use the funds to reinvest in its 'core business'.

The new Eircom headquarters is a nine-storey building with approximately 20,000 square metres of office space and parking for over 190 cars. It was designed by Anthony Reddy Associates and is in the Heuston Framework Development Area, which is bounded by St John's Road, Military Road and the Royal Hospital Kilmainham.

The area is being developed as a new urban gateway centre focused on Heuston Station, with a mix of offices, residential, cultural, retail and other services. Sphere: Related Content