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Oxley unit's JV sells 300-year building lease in Dublin project for €164M

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Oxley unit's JV sells 300-year building lease in Dublin project for €164M

Oxley Holdings Ltd.'s Oxley Docklands Quay One Ltd. subsidiary, in a partnership with National Asset North Quays DAC, struck a deal with Sol Estate Propco IE Dublin Landings Sarl for the €164.2 million sale of the 300-year lease on a jointly owned building, which forms part of a roughly €835 million mixed-use project in Dublin.

Completion of the sale of the nine-story No. 1 Dublin Landings property is expected by April. The property, slated to be delivered in May, features grade A net internal office area of 14,326 square meters, according to an earlier report.

Aside from the building being sold, four other property blocks are being developed at the Singapore-listed developer's complex at 72-80 North Wall Quay. In a news release, Oxley Holdings said it is also seeking expressions of interest for the No. 2 Dublin Landings office building in the same complex, which is rented out to Dublin Landings Tenant Ltd. under a 20-year deal guaranteed by co-working space giant WeWork Cos.