AXA Investment Managers – Real Assets (AXA IM – Real Assets) announced that it has exchanged on the acquisition of the La Touche House office building in Dublin’s financial centre, on behalf of AXA IM – Real Assets’ value-add investment strategy, in partnership with BCP Capital who will act as local operating partner.
The centrally located building, dating back to 1992, comprises 96,020 sq ft of office space spread across six above-ground floors, and has been acquired fully let to 13 institutional grade tenants.
La Touche House stands prominently in the middle of Dublin’s International Financial Services Centre (IFSC), with an impressive roster of major blue-chip occupiers, and benefits from excellent transport infrastructure with a LUAS tram station located immediately to its front while Connolly Station, which connects to the national railway and suburban DART line, is just a short walk away. Furthermore, the property’s city centre location means that Dublin’s wealth of leisure, dining and entertainment options are on its doorstep.
“La Touche House presents an exciting opportunity to reposition and modernise an office building that benefits from a fantastic central location served by excellent transport links, in an incredibly dynamic market that has low vacancy and strong demand from leading global corporate occupiers. We look forward to working with BCP Capital to fulfil our refurbishment and leasing programme and deliver an institutional quality building into a growing market, in order to maximise this investment’s returns potential for the benefit of our clients,” said Stuart Carr-Jones, Head of UK & Ireland Transactions at AXA IM – Real Assets.