Grosvenor Diversified Property Investments (GDPI) has invested alongside Fine Grain Property in FGPO Ireland Fund III, a fund dedicated to the provision of contemporary workplace communities in business parks across Ireland, allowing employers to better attract and retain employees.
The investment strategy relies on the specialised market knowledge and established local
networks of the Fine Grain team to make effective purchase decisions. Grosvenor and Fine Grain Property share a focus on sustainable investing.
Having recently gained a validated Science Based Target, Fine Grain implements its proactive approach to sustainability through its Fine Grain Futures programme, integrating environmental risk indicators into investment decisions, and actively managing assets to reduce their carbon footprint.
The portfolio is seeded by Waterside, a development of five HQ office buildings housing SAP, Fidelity, Glanbia and Hidden Hearing, located in the Citywest Business Campus in Dublin, the city’s prime suburban office location. Waterside, which covers 219,300 sq. ft., also holds planning permission for an additional three buildings, providing a further 180,000 sq. ft. of space and scope for future expansion.
The new partnership, which is also GDPI’s debut investment in Ireland, comes following its recent announcement of plans to double the size of the business over the next five years.
Andy Yates, Chief Investment Officer, Grosvenor Diversified Property Investments commented:
“This new partnership forms part of our global expansion plans and establishes exposure to a key European commercial market. With asset quality a clear focus for occupiers, our joint commitment to sustainability and Fine Grain’s active management experience will ensure properties in the fund meet evolving market needs.”
Kevin Mahony, Finance Director at Fine Grain Property commented:
“Our partnership with Grosvenor Diversified Property Investments and the establishment of FGPO Ireland Fund III represent important steps in the continued growth of Fine Grain Property’s workplace community across Ireland.”
“At Fine Grain Property, we work with people that we like, trust, and respect. As long-term real estate investment partners, Grosvenor and Fine Grain’s values are clearly aligned, and our partnership will allow us to continue to invest in enabling great workplace communities across Ireland, building success for our clients and delivering sustainable returns for our investors. Following our investment in the Waterside development in Citywest Business Campus, we continue to seek further properties to add to our portfolio.”
