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Irish firm becomes major landlord in Britain

February 16, 2011

By Staff Reporter

By Andrew Bushe

DUBLIN — Ireland’s Green property company has made a major investment in commercial properties portfolio in London, Manchester, Birmingham and Glasgow. Green made the purchase in partnership with the Whitehall Fund, which is managed by Goldman Sachs.

Green will manage the portfolio for the partnership, which paid over the £400 sterling million book value for the property.

It involves more than 1,200 tenants, most of which have five yearly rent reviews on their leases.

Green’s managing director, Stephen Vernon, said 45 percent of the property was in central London and the south of England. Another 40 percent is in Birmingham and Manchester, with about 16 percent in Scotland, mainly in Glasgow.

About 55 percent is offices, 24 percent retail and 21 percent industrial.

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