22 January 2016

Acquisition completion and lease surrender

Hibernia REIT plc (“Hibernia” or the “Company”) announces that it has exercised its option to take direct ownership of Hardwicke House and Montague House, Dublin 2, for a net payment of €41.8m (excluding costs).  Hibernia initially acquired an interest in the buildings via secured loans for €18.2m in May 2014, with an option to take full ownership at any time up to mid-2016:  the exercise of the option brings the total consideration paid to €60m excluding costs (c. €64m including costs, equivalent to €725 per sq. ft. ).

 

Download PDF