Wed Jun 1 2022 - 10:41
Glenveagh has now generated €210 million from the Dublin docklands via three separate transactions: site sales at both Castleforbes and East Road, and the forward funding of the Premier Inn hotel. The group’s final asset in the area is a 12,500 sqm office development, which it said it would look to sell closer to “practical completion” in 2024.
Following the East Road sale and as noted in the group’s recent annual general meeting , Glenveagh has identified €75 million as excess capital which it is now proposing to return to shareholders in the form of a share buyback scheme, which commences on Wednesday with the aid of Davy Stockbrokers.
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