Hong Kong investor enters Irish market

Hines and Hong Kong–based Peterson Group have formed a joint venture to acquire two Dublin properties — the Central Bank buildings on Dame Street and 2 Grand Parade in Dublin 6. 

These two prime acquisitions represent Peterson Group’s first investments in Ireland and also its first partnership with Hines.

A sales price for the transaction was not disclosed; however, local media outlets indicate the Dame Street headquarters was sold for approximately €67 million ($72 million). The sales price for the Grand Parade premises is unknown, but the combined price of the two properties is understood to be in excess of €100 million ($107 million).

Hines and Peterson Group are currently considering future plans for the Central Bank buildings ahead of taking control of the property. The main building was constructed in 1978 and designed by architect Sam Stephenson. The sale includes the adjoining Annex, Commercial Buildings and 6-