Lambert Smith Hampton (LSH), acted on behalf of Knight Frank Investment Management (KFIM) and a Korean investment manager to have acquired The Beckett Building in Dublin for a price in excess of €100m.
The 190,000 sq ft Beckett Building, located on East Road just north of the Dublin Landings development, will be home to Facebook.
Ric Crane, partner at KFIM, commented: “The Beckett is the second European transaction outside the UK that KFIM has successfully completed for Korean investors in the last 6 months. The acquisition offers secure income at an attractive rental and capital value level, which we believe provides solid future performance prospects. “
Donall McCann, head of regional capital markets at LSH, said: “Given the level and type of interest this property attracted, it is clear that the Dublin office market continues to be of strong interest internationally and offer the opportunities required for the growth and success of businesses selecting the capital.”
Shiells & Co. also advised KFIM alongside LSH on this deal. McGreevy Property Consultants acted on behalf of the Comer Group Ireland on the letting and sale of The Beckett.