French SCPI Transitions Europe has acquired Hawthorn House at Plassey Innovation Campus in Limerick from Fine Grain Property for an undisclosed sum.
Hawthorn House at Plassey Innovation Campus
The property, developed by Fine Grain in 2019, is a modern LEED ‘Gold’-certified, 50,000 sq ft office building fully let to Kneat Solutions and General Motors on long-term leases.
This transaction follows the acquisition by Fine Grain of the neighbouring Three Building, and the sale of neighbouring Hamilton House II, both in late 2024.
Darragh Lennon, chief operating officer of Fine Grain, said: “The sale of Hawthorn House to a leading French institutional investor highlights the appeal of the Plassey Innovation Campus and Limerick as an investment location.
“At the Plassey Innovation Campus, we have created, over the past number of years, a workplace community where innovation is thriving and it continues to attract high-quality international and Irish occupiers who want to access the talent from the University of Limerick.”
He added: “The transaction underpins our strategy to realise value for investors while further deepening market confidence in the Limerick office sector.”
Fine Grain was advised by Fergal Burke and Artem Makarevitch from Avison Young and Michael Neary from Philip Lee. Arkéa REIM was advised by Henry Timmis and Chris Rees from Sienna IM and Craig Kenny and Ben Conroy from Dentons.
