Arena property with asking price of €65 million still on the market

By Laura Lyne

THE ARENA complex located beside Tallaght Stadium remains the only property not to be sold by Green REIT as part of a portfolio of six investment properties, with an asking price of €65 million.

Included within a portfolio of properties that were offered for sale back in February, the entire portfolio was expected to garner over €168 million.

The five other properties that have been sold and agreed will bring in around €100 million.

The portfolio was originally sold to Green REIT back in October 2013 for €127.6 million, and included 10 properties – eight of which are located in Dublin.

A rental income of €4.6 million is attached to the Arena complex, which includes three office blocks, 63 residential apartments, four retail warehouses, a leisure centre, and the 119-bedroom Maldron hotel.

Upwards only rent reviews are attached to the Bank of Ireland, Woodies, Lidl and Maldron Hotel, which make up for 80 per cent of the rental income on the property.

Overall, the property includes more than 380,000 sqft of floor space and has 98 per cent occupancy.