The real estate investment trust Hibernia REIT has bought an office building in central Dublin for €26.5m.
Marine House is a six floor office block with an underground car park in Dublin 2.
The building is fully let to a range of occupiers, including accountancy firm Crowe Horwath and WK Nowlan Property.
It generates a total current rent of €1.2m a year.
Hibernia REIT's chief executive Kevin Nowlan said there were possibilities to redevelop the building either on its own or as part of the wider redevelopment of Clanwilliam Court, a group of seven blocks in that area.
"With low average rents of €23 per square foot in the building, there are opportunities in the near term to enhance the income through light refurbishment," he added.
