Hibernia buys offices
Property investment company Hibernia REIT is to buy the Cumberland House office block in Dublin 2 for €49m.
The company is eyeing up potential redevelopment plans and there is existing planning permission to replace the current building with up to 250,000 net square feet of new office accommodation.
Chief executive Kevin Nowlan (right) said the block, near Pearse Street station, has "exciting asset management and redevelopment opportunities".
"We look forward to working with potential occupiers on plans for it," he added.