28-03-2018, 08:03 PM
Sale of No. 1 Dublin Landings in Ireland
Oxley Holdings Limited announced that the Group’s wholly-owned subsidiary, Oxley Docklands Quay One Limited ("Oxley Docklands"), and National Asset North Quays DAC, as the vendors, have entered into an agreement with Sol Estate Propco IE Dublin Landings SARL, as the purchaser, for the sale of a 300-year lease of No. 1 Dublin Landings, 72-80 North Wall Quay, Dublin 1, Ireland (previously known as Block D1).
The Property will be sold at an aggregate price of EUR164.20 million (excluding value added tax), of which Oxley Docklands will be entitled to 77.53%. The Sale Price was negotiated based on the prevailing market conditions and the market prices of properties surrounding the Property.
A deposit of EUR16.5 million has been paid and the balance of the Sale Price will be paid on completion, currently scheduled in April 2018.
On completion, the net proceeds from the Sale will contribute positively to the cashflow of the Group.
Oxley Holdings Limited announced that the Group’s wholly-owned subsidiary, Oxley Docklands Quay One Limited ("Oxley Docklands"), and National Asset North Quays DAC, as the vendors, have entered into an agreement with Sol Estate Propco IE Dublin Landings SARL, as the purchaser, for the sale of a 300-year lease of No. 1 Dublin Landings, 72-80 North Wall Quay, Dublin 1, Ireland (previously known as Block D1).
The Property will be sold at an aggregate price of EUR164.20 million (excluding value added tax), of which Oxley Docklands will be entitled to 77.53%. The Sale Price was negotiated based on the prevailing market conditions and the market prices of properties surrounding the Property.
A deposit of EUR16.5 million has been paid and the balance of the Sale Price will be paid on completion, currently scheduled in April 2018.
On completion, the net proceeds from the Sale will contribute positively to the cashflow of the Group.