REO - Riddler - This RNS Help11 Apr 2011 16:07
RNS Number : 6894E
Real Estate Opportunities PLC
11 April 2011
Real Estate Opportunities plc (the "Company", "REO")
REO completes sale of Montevetro building to Google for €99.9m
Further to its announcement on 17 February 2011, Real Estate Opportunities plc, the real estate investment and development group active in Ireland and the UK, is pleased to announce that it has completed the sale of Montevetro, Dublin's tallest commercial office building, to Google for €99.9million, to be satisfied in cash.
Discussions between the Company's investment adviser, Treasury Holdings, and Google began in early 2010 about Google taking a lease of the building, but developed into discussions for an outright sale late last year.
REO's development of the landmark 15-storey building, which commenced in March 2008 and completed in January 2011, comprises 210,000 sqft of prime office space in Grand Canal Dock, Dublin 2. The three basement levels provide 80 car parking spaces and extensive additional bicycle and motor cycle spaces. The building, which reaches 67 metres, offers easy access to St Stephen's Green, Baggot Street, the IFSC and Spencer Dock. It also offers unrivalled connectivity to national infrastructure with an integrated DART line which connects with Connolly Station.
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