16 August, 2006 - 10:46 By Staff Reporter

Dublin property company buys 16,000 sq ft MK office space

Blackrock International Land, the Dublin-based property company, has paid €4.5 million (£3m) for 16,000 sq ft of office space in Milton Keynes’ business heartland.

Blackrock International Land, the Dublin-based property company, has paid €4.5 million (£3m) for 16,000 sq ft of office space in Milton Keynes’ business heartland.

The offices are let to strong covenants on long-term leases with an average unexpired term of seven years at a total rent of €280,000 (£190,000) per annum. Blackrock, which was incorporated in March this year and listed on the London and Irish stock exchanges in May, said the property may also have longer-term development potential. The purchase brings the total investment by Blackrock since it listed to €13.5m (£9.1m).

Blackrock chairman, Carl McCann, said: “We are pleased to have secured this addition to the Group’s property portfolio. Several other transactions in a number of locations are under consideration at this time and we would anticipate further announcements this year.”

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