Hibernia REIT Purchases Former Gateway Site
News: Irish real estate investment trust Hibernia REIT has purchased a former Gateway site at Newlands Cross in west Dublin, Ireland, for EUR10mn (US$13.74mn). The site can be used for different purposes such as industrial, retail warehousing, car showrooms, a transport depot and petrol stations under the development plan of the South Dublin County Council. The property consists of warehouse accommodation that is 46% occupied and produces an annual rental income of EUR517,000 (US$710,735). The gross yield of the site is 5.12%.