Cumberland House, a €50m (£39.3m) prime Dublin office, has been put back on the market after a period of exclusivity with potential buyer Hibernia REIT expired.
Hibernia REIT had been the front-runner to buy the 112,000 sq ft building, which was being sold by the Christopher Bennet Group in August. At the time, the REIT had extended a €38m short-term loan to the vendor in order to give them more time to conclude their negotiations with their bank.
However, Hibernia REIT is still interested in the building. A spokesperson for the company said: “Hibernia REIT continues its discussions in relation to acquiring Cumberland House. While a period of exclusivity on the transaction has expired we remain hopeful we will complete a deal.”
Cumberland House is being sold with vacant possession by Savills, and planning permission has been granted for the building to be demolished and replaced with a 315,000 sq ft grade-A office with 73 parking spaces.
