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Gunne shoots off to London with new UK property vehicle

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Green Reit founders Stephen Vernon and Pat Gunne

Green Reit founders Stephen Vernon and Pat Gunne

Green Reit founders Stephen Vernon and Pat Gunne

Green Reit founder and serial property entrepreneur Pat Gunne is set to launch a new property investment vehicle in London called 3RE Capital Ventures, Ergo understands.

Alongside fellow founder Stephen Vernon, Gunne completed the sale of real estate investment trust Green Reit to Henderson Park for €1.34bn last month.

It is understood Gunne will now focus on his own real estate investment vehicle, 3RE Capital Ventures, which has an address in the Mayfair area of London and another address in Dublin.

Ergo understands that Gunne is currently at a very early stage with the project and is starting to set the new investment vehicle up.

Currently, the investment vehicle is not focused on any particular area, but is expected to operate in Ireland and the UK. Sources tell Ergo that attention could be aimed at the commercial property space.

According to the UK's Companies House and the Companies Registration Office in Ireland, 3RE Capital Ventures was previously called PGCO (Invest) Limited, with the Irish company formed in 2013 and the UK company established in June 2018.

In June of this year, the Irish and UK companies both changed their names to 3RE Capital Ventures. Both companies have been dormant since their incorporations.

Gunne's former company, Green Reit, owned a prime office portfolio, with tenants including Barclays Bank and Vodafone.

Before being sold to Henderson Park, it owned a logistics park near Dublin Airport and the Central Park office campus in Leopardstown in south Dublin.

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