STRATEGY
Active management of OPW lease.
Value uplift through a combination of rent increase and yield compression, fueled by improvements to the Heuston Gateway area.
Explore acquisition adjoining properties.
FACTSHEET
35,499
NSF
€19,500,000
PURCHASE PRICE
Capital Stack
Debt
Team
Blackbee
Beauchamps
Mathesons
Location
Dublin 8
Date Acquired
Dec 2019
Website
www.blockcdparkgatebusinesscentre.com
PROJECT UPDATES
FEB 2020
Hickey site SHD application submitted to An Bord Pleanala - https://parkgatestreetshd.ie/
MAR 2020
Architect selected to carry out a feasibility study for various development options. Horan Rainsford.
Immediate COVID 19 impact: Minimal
The tenants; HSE and Transport Infrastructure Ireland and are both Government-sponsored and no rental income issues are anticipated.
JUN 2020
Chartered Land receive partial approval for SHD scheme, effectively a full approval with a request to improve design of the tower. Irish Times article
`AUG 2021
German pension fund, Union Investment acquire Parkgate Block A & B for €24M+ Link
NOV 2021
Chartered Land receive full approval for Hickey Site 30 floor SHD