CBRE has been instructed to sell the Sovereign Portfolio, a collection of prime retail and suburban office buildings in Dublin and Cork, with a guide price of €118m.
The portfolio, which is being sold on behalf of Royal London Asset Management, has a total rent roll of approximately €7.4m pa.
The properties include eight retail assets on Grafton Street, Henry Street, Dawson Street and O’Connell Street in Dublin and on Patrick Street in Cork. In addition, there are five office buildings located on Merrion Row Dublin 2, Blanchardstown Corporate Park, Liffey Valley Office Park, Ballast House and Eastgate Business Park, Cork.
CBRE’s Natalie Brennan said: “The retail market, at least at the prime end, is now where the office market was in the recovery cycle at the beginning of 2013. This portfolio offers a unique opportunity to benefit from this recovery, as well as a strongly performing office sector.”
