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Silicon docks deal done

Property firm Hibernia Reit has sealed a deal to create a major development block in the Dublin docklands.

The company has exchanged contracts to buy a 0.75 acre freehold development site at 1-6 Sir John Rogerson's Quay, Dublin 2 for €17.75m in an off-market transaction.

The site fronts onto Liffey in the south docklands area dubbed "Silicon Docks" because it is home to companies including Google, Twitter and Facebook.

It is adjacent to the Observatory Building, also owned by Hibernia, and backs onto two more properties controlled by the firm.