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Oxley subsidiary to sell residential units in Ireland for €175.5 million

The residential units are located at Dublin Landings, North Wall Quay, in Dublin, Ireland.

Oxley Holdings’ wholly-owned subsidiary Oxley Docklands Quay Three and its partner National Asset North Quays have entered into a letter agreement to sell 268 residential units in Ireland to Greystar Europe Holdings at a purchase price of €175.5 million.

The 268 residential units for two blocks of properties – blocks B and E – are located at Dublin Landings, North Wall Quay, in Dublin, Ireland. The property is a mixed-used development located along Dublin’s North Wall Quay. The deal also includes 210 car parking spaces and external common areas.

Greystar has been given exclusivity until March 4th to conduct a comprehensive due diligence on the property and agreeing with the necessary documents for the transaction. The sale completion is targeted to be on February 27th.

Oxley said it will make further announcements when the contract of sale is exchanged.

Oxley selling off its Dublin properties

On January 22nd, the property developer entered into an agreement with Ireland’s central bank to sell of two blocks of buildings in Dublin for €204 million. The properties in the deal were No. 4 and No. 5 Dublin Landings, North Wall Quay, for €97 million and €107 million, respectively.

In November last year, the group sold a 300-year lease property on No. 2 Dublin Landings for €106.5 million. The proceeds from the sale would contribute positively to the cash flow of the group, Oxley had said.

Oxley’s shares climbed 3.45% or S$0.01 minutes into trading on Monday, to S$0.30.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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