Monday 26 September 2016

Hines seen as frontrunner to buy Goodman's Setanta Centre in deal worth over €100m

Published 08/05/2016 | 02:30

The Setanta Centre in central Dublin is likely to be redeveloped if it is sold
The Setanta Centre in central Dublin is likely to be redeveloped if it is sold

US property firm Hines is believed to be the front runner to buy businessman Larry Goodman's Setanta Centre in Dublin, in a deal expected to be worth well over €100m.

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While Mr Goodman has not officially put the property on the market, he is thought to have received a number of unsolicited offers for the block, which is widely seen as one of the major untapped redevelopment opportunities in the area around Nassau Street and St Stephen's Green.

Mr Goodman, who heads beef processing giant ABP, has owned the property for several years through his Parma Investments company.

He owned the property previously before buying it back from Green Property in 2003 for €89m.

Talks between Parma and a number of potential buyers are said to be ongoing although there is no guarantee that the property will be sold. A final deal is thought to be some time away as yet.

Hardwicke Investments, which developed the Setanta Centre is reported to have been among the firms which have offered to buy the block from Mr Goodman.

Sunday Independent

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