Having created a portfolio of high quality commercial real estate, including office, industrial and retail assets in Ireland, we are focused on driving further risk-adjusted shareholder returns through the exploitation of the asset management initiatives and development opportunities within the portfolio.
The Management Team, who advise the Group through the Investment Manager, focus on freehold and long leasehold properties in Ireland, principally in Dublin.
We choose properties which require active management and which fit with our strategy of creating a real estate investment portfolio capable of paying dividends in line with the Irish REIT Regime.
We actively monitor potential investment opportunities that would augment our existing portfolio and satisfy the Group’s investment criteria.
- Prime and good secondary assets and locations
- Central Dublin office properties acquired close to (and ideally below) replacement cost
- Properties in locations expected to benefit from a continued upswing in foreign direct investment in Ireland
- Retail assets in city centres and certain suburban areas, warehousing and distribution facilities located in close proximity to motorway infrastructure, and a limited amount of mixed use assets
- Scope for short and medium-term value enhancement through active asset management
- Capital value protected either through long term, secure rental flows, or through inherent capital values in existing or alternative uses of the property
- Properties with strong prospects of generating income in the short to medium term in order to support the Company’s dividend policy
- Properties that have been undermanaged and undercapitalised and are capable of being upgraded
- Retail properties with tenants who are at minimal risk of entering into receivership or prepack administration
Effective asset management is key to adding value to our investments. Our management team employs a thorough and disciplined approach to asset acquisition and management in order to manage the risk profile of income streams (including rigorous analysis of tenant financial strength). Where appropriate we intend to improve the income profile of, and add value to, our property portfolio through proven asset management techniques, which include:
- Renegotiating or arranging surrender of leases
- Improving lease lengths and tenant profile
- Undertaking physical improvements where considered appropriate
- Maintaining dialogue with tenants to assess their requirements
- Taking advantage of planning opportunities where appropriate
- Re-positioning and upgrading assets