Situated in the heart of Galway city just off Eyre Square, Citypoint comprises approximately 7,608 sqm of leisure, retail, office and aparthotel accommodation over basement, ground and five upper floors as well as 93 car parking spaces. The property is 100% let to tenants including TK Maxx, Mathworks, Snap Fitness and Western Hotel and has an average lease to expiry of 8.5 years.
Galway Bus Station and Ceannt Train Station are just a short walk from Citypoint and serve routes to Dublin, Limerick, Cork, Waterford and more.
Arthur Debaere, Head of Acquisitions Ireland – Real Estate, says of the deal: “We are delighted to have closed our second acquisition in Ireland in a short period. This illustrates our strong conviction for the Irish market as well as our capacity to act efficiently on different types of asset classes.”
Henry Timmis, Co-Managing Director UK – Real Estate, adds, “Citypoint is a highly sought-after, prime mixed-use asset and we are delighted to have secured it following a competitive bidding process.”
SCPI Transitions Europe/Arkéa REIM was advised by Sienna IM (investment management), A&L Goodbody (legal & tax) and Logical (technical & environmental).
The vendor, Aviva Life & Pensions Ireland DAC was advised by Savills and TWN (agents) and Dillon Eustace (legal).
