Gateway Site Acquisition

Hibernia REIT plc

Hibernia Announces Acquisition of €10m Strategically Located Property with Significant Re-Development Potential

Hibernia REIT plc ("Hibernia" or "the Company") announces that it has exchanged contracts to acquire the Gateway site, Newlands Cross, Naas Road, Dublin 22. The property comprises an industrial/logistics facility with potential for significant intensification. The cost of the acquisition is €10m and will be financed from existing cash resources.

The property comprises 178,000 sq. ft. of warehouse accommodation and occupies a prime 14 acre site with excellent frontage onto the Naas Road and is within close proximity to the M50 motorway and to Dublin's light rail system. It is currently 46% occupied and is producing an annual rental income of €517,000. The current gross yield is 5.12%. This is the third acquisition by Hibernia since listing in December 2013 and will bring total funds invested to approximately €128m in a diverse portfolio of assets.