Kennedy Wilson Sells Over 80,000 Sq Ft of Prime Dublin Offices to Google
December 17, 2018 – Global real estate investment company Kennedy Wilson (NYSE: KW) announces that it has completed the sale of South Bank House and The Warehouse, Dublin 4 to Google Ireland Limited (“Google”).
South Bank House and The Warehouse,
Situated on Barrow Street in Dublin’s South Docks, South Bank House was completed in 2006 and provides over 62,000 sq ft of Grade A offices. The Warehouse sits on the waterfront to the rear of South Bank House and comprises a 19th century, three-storey warehouse building over 19,500 sq ft, that was extensively refurbished to provide modern office space. Both assets are leased in their entirety to Mason Hayes and Curran, a leading Dublin law firm with offices in London, New York and San Francisco.
The two properties were acquired by Kennedy Wilson in July 2013 and sit adjacent to Boland’s Quay, a mixed-use development due to complete in Q1-2020, which was also acquired by Google in May 2018.
Alison Rohan, Head of Ireland, Kennedy Wilson Europe, said: “Strong execution of value-enhancing asset management initiatives across both South Bank House and The Warehouse, alongside the thriving redevelopment of the Barrow Street area, have culminated in this successful sale. It has been a pleasure to work with Google again and wish the team every success.”
Joe Borrett, Director of Real Estate and Construction of Google, added: “We are very pleased to complete the acquisition of South Bank House and The Warehouse on Barrow Street, which we’ve called home now for 15 years. Google continues to be committed to Ireland and our real estate presence and portfolio continues to grow to meet the needs of our business.”
About Kennedy Wilson
Kennedy Wilson (NYSE:KW) is a global real estate investment company. We own, operate, and invest in real estate both on our own and through our investment management platform. We focus on multifamily and office properties located in the Western U.S., UK, and Ireland.
For further information on Kennedy Wilson, please visit: www.kennedywilson.com
Special Note Regarding Forward-Looking Statements
Statements in this press release that are not historical facts are “forward-looking statements” within the meaning of U.S. federal securities laws. These forward-looking statements are estimates that reflect our management’s current expectations, are based on assumptions that may prove to be inaccurate and involve known and unknown risks. Accordingly, our actual results or performance may differ materially and adversely from the results or performance expressed or implied by these forward-looking statements, including for reasons that are beyond our control. For example, we may not be able to maintain our current acquisition or disposition pace or identify future properties to acquire on terms we consider attractive, and our current property portfolio may not perform as expected. Also, there can be no assurance that we will complete any transactions that are under currently contract. Accordingly, you should not unduly rely on these statements, which speak only as of the date of this press release. We assume no duty to update the forward-looking statements, except as may be required by law.
For further information, please contact:
Dido Laurimore / Tom Gough / Eve Kirmatzis
+44 20 3727 1000