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Dublin site is bought for €6m

UK property development firm Development Securities has acquired the Avid building in Sandyford, Dublin, for €6m.

The building, which occupies a 1.8-acre site, comprises 42,000 sq ft of office and warehouse space along with 107 car parking spaces and is fully let to Avid Technology until April 2017.

Development Securites plans to redevelop the site, creating a new mixed-use development that includes up to 140 residential units and about 10,000 sq ft of commercial space.