Eircom Agrees to €40 Million Sale Leaseback of Network Management Centre in Dublin

Sunday Business Post - September 9, 2007

Investment firm Quinlan Private has agreed to buy Eircom’s network management centre in Citywest in west Dublin for about €40 million. The wealth management company has agreed a sale and leaseback deal for the premises, and the purchase price equates to a yield of around 4.5 per cent.

Eircom is likely to pay a rent of around €2 million a year for the network management centre which fronts onto the N7 and covers just under 6,900 square metres. There are 280 car-parking spaces which offer long-term redevelopment potential. Eircom has been selling off its property assets in recent years in order to help reduce debt.

Last December, it sold its new headquarters near Heuston Station for more than €190 million. The purchaser of that building was also Quinlan Private. Quinlan Private has more than €10 billion in assets under management. Sphere: Related Content