Property investment firm Hibernia REIT has said that 2015 has started positively for it, with a number of opportunities which it is actively assessing with its "usual discipline".
In an interim management statement covering October to the present date, Hibernia said the sales of the Dorville non-core assets are progressing well.
So far, sales have been agreed, contracted or completed for about one third of the assets by value.
It said that the aggregate proceeds of €10.3m (net of selling costs) are more than 10% above the allocated value at the time of acquisition.
Giving details on its development and refurbishment projects, Hibernia said that the fit-out of the 213 apartments in Block 3, Wyckham Point remains on schedule and within budget.
The first units are expected to be completed and available for rent in the second quarter of this year with the project finished in the second half of the year.
Work has also continued on preparation for the office developments at Windmill Lane and 1-6 Sir John Rogerson's Quay.
At Commerzbank House, agreement has been reached with Commerz Management Services Ltd regarding the early surrender of their lease as planned. Hibernia said it intends to refurbish the building to Grade A standard during 2015 ahead of re-letting.
"We are well positioned to take advantage of the acquisition opportunities we expect in the next 12 to 18 months," commented Kevin Nowlan, CEO of WK Nowlan REIT Management Limited, Hibernia's Investment Manager.
