Fine Grain joined by Grosvenor in Irish commercial real estate fund

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Grosvenor Diversified Property Investments commits €40 million (£35.5 million) as it makes first investment after publishing expansion plans

Grosvenor Diversified Property Investments (GDPI) has invested alongside Fine Grain Property in FGPO Ireland Fund III, a fund dedicated to the provision of contemporary workplace communities in business parks across Ireland, allowing employers to better attract and retain employees.

The investment strategy relies on the specialised market knowledge and established local networks of the Fine Grain team to make effective purchase decisions. Grosvenor and Fine Grain Property share a focus on sustainable investing.

Having recently gained a validated Science Based Target, Fine Grain implements its proactive approach to sustainability through its Fine Grain Futures programme, integrating environmental risk indicators into investment decisions, and actively managing assets to reduce their carbon footprint.

The portfolio is seeded by Waterside, a development of five HQ office buildings housing SAP, Fidelity, Glanbia and Hidden Hearing, located in the Citywest Business Campus in Dublin, the city’s prime suburban office location. Waterside, which covers 219,300 sq. ft., also holds planning permission for an additional three buildings, providing a further 180,000 sq. ft. of space and scope for future expansion.

The new partnership, which is also GDPI’s debut investment in Ireland, comes following its recent announcement of plans to double the size of the business over the next five years.

Andy Yates, Chief Investment Officer, Grosvenor Diversified Property Investments commented: “This new partnership forms part of our global expansion plans and establishes exposure to a key European commercial market. With asset quality a clear focus for occupiers, our joint commitment to sustainability and Fine Grain’s active management experience will ensure properties in the fund meet evolving market needs.”

Kevin Mahony, Finance Director at Fine Grain Property commented: “Our partnership with Grosvenor Diversified Property Investments and the establishment of FGPO Ireland Fund III represent important steps in the continued growth of Fine Grain Property’s workplace community across Ireland.”

“At Fine Grain Property, we work with people that we like, trust, and respect. As long-term real estate investment partners, Grosvenor and Fine Grain’s values are clearly aligned, and our partnership will allow us to continue to invest in enabling great workplace communities across Ireland, building success for our clients and delivering sustainable returns for our investors. Following our investment in the Waterside development in Citywest Business Campus, we continue to seek further properties to add to our portfolio.”


About Grosvenor Diversified Property Investments

We back local property investment partners globally, who share our values, have specialist expertise and a demonstrable investment track record.

By investing Grosvenor’s own capital alongside local partners who have a clear understanding of the changing demands of real estate in their markets, we aim to generate strong commercial results, while advancing our social and environmental ambitions.

Since our first partnership in 2012, we’ve successfully backed aligned, specialist, local management teams across five continents and in a broad range of sectors including industrial/ logistics, student accommodation, life sciences, healthcare, housing, and offices.

About Fine Grain Property

Fine Grain Property is an Irish-owned international commercial real estate investor and operator, which has invested more than €290 million across Ireland since 2016.

Its growing Irish business park portfolio consists of c. 1.2 million square feet of commercial real estate hosting more than 65 global employers in locations across Ireland. Over its 16-year history, Fine Grain Property has generated stable investment returns for its investors through a proactive, hands-on investment approach.

Fine Grain Property’s experienced team in Ireland seeks to build success for clients by enabling great workplace communities, which in turn help employers to attract and retain highly educated employees in Ireland, consistently the fastest-growing economy in Europe.

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