Dublin-listed real estate investment trust Green REIT has said it is pleased with how the sale process announced by its board in April is progressing.

In a trading update, Green REIT said it was pleased with the level of interest expressed to date, adding that it will provide a further update to shareholders as and when appropriate.

Green REIT specialises mainly in office space in the Dublin area, though it had recently been expanding its logistics investments around Dublin Airport.

In today's trading update - covering the period from January to today - Green REIT said its contracted annual rent rose to €79.4m from €75.5m in December.

When rental income from lettings with terms agreed and in advanced discussions are included, the company said its contracted annual rent rose to €83.3m.

During the six month period, Green REIT signed one new letting and also agreed terms on a further two lettings at George's Quay Estate, which will bring it to full occupancy

Terms were also agreed for the retail space at One Molesworth Street, which will also bring the building to full occupancy, delivering a total rent of €5.85m a year.

The company announced no new acquisitions and no disposals since the end of December.

Gary Kennedy, Chairman of Green REIT, said the leasing success achieved so far this year demonstrates the high quality of its portfolio and the very supportive backdrop of the market.

He noted that the first quarter of 2019 witnessed a new record level of take-up in the Dublin office market. 

"Combined with the sustained low interest rate environment, the operating environment remains strong across both the occupier and capital markets," Mr Kennedy said.