DTZ

An overview of the work carried out by DTZ Sherry FitzGerald’s investment team in the disposal of three office assets in Dublin on behalf of Royal Liver.

Overview

DTZ Sherry FitzGerald’s investment team was instructed to undertake a detailed analysis of Royal Liver’s Irish portfolio in order to recommend on strategy going forward and any potential sales where value could be realised.

On recommendations made it was decided to dispose of three office assets in a time in the market when DTZ Sherry FitzGerald believed value could be maximised.

What DTZ did

• Identified suitable properties in the portfolio for disposal that would generate the right amount of interest in the market for a successful sale
• Undertook a very successful marketing campaign generating huge interest from the investor market 
• Successfully completed the sale of the portfolio whilst achieving well in excess of the guide price and closing the transaction in line with the client’s timeframe

Results

• DTZ Sherry FitzGerald successfully completed the sale of the portfolio, comprising Garryard House, 13 Pembroke Row and 96-102 Lower Mount Street, all located in the CBD of Dublin. The total consideration was in excess of €52,000,000 reflecting a very low initial yield of approximately 3.25%.
• The portfolio sale received extensive media coverage, including coverage by The Irish Times & Irish Independent, as it was one of the larger investment transactions in Ireland in 2007.