Henley Bartra JV pays €125m for Dublin and Cork properties

Henley Bartra Dublin & Cork acquisitions -CityWest Campus - Henley Investments

Henley Investments and developer Richard Barrett seal off-market deal for assets.

Henley Bartra has paid €125 million in an off-market deal for a portfolio of office and data centre assets in Dublin and Cork.

The company is a joint venture between UK private equity giant Henley and developer Richard Barrett’s Bartra Capital. This transaction represents Henley Bartra’s largest single acquisition to date and means it secures ownership of nearly 500,000sq ft of property distributed across the Citywest Business Campus in Dublin and Cork Airport Business Park.

The properties at both locations are occupied by a wide cross-section of the tech, telecoms, consumer and pharmaceutical sectors. While Henley Bartra did not provide a breakdown of the amounts paid for individual elements of the overall portfolio, market sources estimate the assets at Citywest account for approximately €100 million of the €125 million sale price.

In the case of Citywest, Henley Bartra has acquired a 369,000sq ft portfolio comprising 11 buildings, development sites and car parks from the scheme’s original developers, the Davy Hickey Property Group. The Cork portfolio extends to 140,000 sq ft and was acquired from a private vendor.

“Our continued interest in Ireland is representative of our strategies to focus on key European markets that offer favourable supply-demand dynamics and in investments that we believe will prove resilient throughout the uncertainty in the near term,”

said Justin Meissel, Chief investment officer at Henley.

17th May 2019 | Read the full article at The Irish Times

 For further information regarding this deal simply contact a member of our investment team.