Tuesday 17 January 2017

PwC office block sale set to close

Tara Fitzsimons

Published 31/03/2016 | 02:30

The block on Dublin's North Quays has been on the market since last autumn but the sale process has taken much longer than expected (Stock picture)
The block on Dublin's North Quays has been on the market since last autumn but the sale process has taken much longer than expected (Stock picture)

The long delayed sale of the PwC looks set to finally go through, with US firm Hines expected to take control of the property.

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The block on Dublin's North Quays has been on the market since last autumn but the sale process has taken much longer than expected. At least one of the top bidders in the initial sale process had to withdraw while the sale coincided with worries about whether the property market in Dublin, and the office market in particular, was beginning to slow.

Now though Hines is on the verge of closing the sale in a deal worth a little more than the €240m asking price.

Hines is believed to be being backed in the purchase by two German pension funds.

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