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Letterkenny Office Park in Ireland sold by Bomac Northwest Ltd for €16m.

18th January 2019

Acting on behalf of Bomac Northwest Ltd, Ryden has sold three office properties at Letterkenny Office Park in Letterkenny, Co Donegal, Ireland to property investor Yew Grove REIT, for a total price of €16m and a net initial yield of 8.35%. 

The three high-quality, recently refurbished office buildings, totalling 90,548 sq ft, are currently occupied by Optum Operations Ltd under 10-year leases, with a total annual passing rent of €1,436,720.

Ian Dougherty, Investment Partner at Ryden, commented: “We are delighted to have secured the successful sale of Letterkenny Office Park following a targeted marketing campaign.

“The sale highlights the continued demand for modern, well secured offices investments in the current market.”

Ryden acted jointly for Bomac Northwest in conjuction with Eoin Conway & Associates.

Ian Dougherty

Ian is Head of the Investment and Finance Group in Glasgow. His day-to-day role incorporates the acquisition, sale and funding of properties in every sector, specialising in the West of Scotland.

Having previously worked for a plc property company for a number of years, Ian’s experience incorporates a broad range including development, asset management and valuation, which he is able to draw upon when advising clients.

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