Remake Live SCPI acquires prime office property in Dublin

Global property consultant Knight Frank advised Remake Live SCPI on its purchase of 3 Shelbourne Buildings, a top-tier office property in Dublin's distinguished Ballsbridge area. 

Shelbourne Estate

This marks the eleventh transaction where Knight Frank has advised Remake.
The five-story building offers 4,184 square meters of modern, Grade A office space, fully leased to four reputable tenants, with over half of the rental income secured by a government entity. The property boasts a weighted average lease break of 6.2 years and a weighted average lease term of 7.4 years, ensuring stable, long-term income.
Located conveniently near Lansdowne Road Station and close to Dublin's city center and docklands, 3 Shelbourne Buildings is in a highly desirable commercial spot. This acquisition aligns with Remake's strategy to target core+ and value-add opportunities in prime locations within Europe's most attractive capital cities, prioritizing strong cash flows.
Richard Stewart, partner, Capital Markets, Knight Frank, Europe, commented: “Dublin continues to demonstrate strong fundamentals as one of Europe’s most dynamic and resilient office markets. This acquisition combines secure income with excellent connectivity and long-term asset management potential, aligning perfectly with Remake’s investment strategy. We are delighted to have supported Remake in securing such a high-quality asset in a prime location.”
John Earley, Capital Markets, Knight Frank, Ireland, commented: “We are delighted to have completed this transaction with Remake. Ballsbridge is one of the city’s most sought-after business districts, and 3 Shelbourne Buildings is a fantastic addition to their portfolio. This deal highlights both the continued strength of the Dublin office market and the confidence of international capital in Ireland. It has been a pleasure working with Remake again and helping them grow their presence in Dublin.”
Julien Lamy, Partner – head of investments, Remake Live SCPI, added: “3 Shelbourne Buildings is an exceptional addition to our European diversified portfolio, reinforcing our focus on high-quality, income-generating office assets in prime locations. This asset combines long-term rental security, a strong tenant mix including a substantial government-backed component, in one of Europe’s leading capital cities. The asset’s quality, location, and tenant profile make it a strong fit for our long-term vision.”