French investor Atland Voisin has made its second investment in quick succession in Ireland’s commercial property market, paying about €11 million for Kingram House on Dublin’s Fitzwilliam Place. The price paid represents a slight uplift of 2 per cent on the €10.75 million value market sources had ascribed to the office block when it was put up for sale along with 10 other investment properties owned by developer Johnny Ronan’s Ronan Group Real Estate (RGRE) in April of this year. The portfolio, which also included Connaught House and Bewley’s Grafton Street premises, was offered to the market on behalf of receivers Grant Thornton by joint agents JLL and Cushman & Wakefield at a guide price of €150 million.

Kingram House briefly comprises a four-storey office block of 1,473sq m (15,850sq ft). The building has a B2 BER rating and is fully let to the Irish Medical Council with about eight years remaining on the lease which has upward-only rent reviews. The property is generating €827,500 in annual rental income.

News of Atland Voisin’s acquisition of Kingram House comes just two weeks after The Irish Times reported on its purchase for €24 million of “20 on Hatch”, a prime office building on Lower Hatch Street in Dublin city centre. The price paid by Atland represented a 9 per cent discount on the €26.5 million price the property had been guiding when it was offered to the market on behalf of Davy Real Estate in April of this year.

20 on Hatch comprises a six-storey-over-basement office building of 44,735sq ft (4,156sq m), with the majority of the space leased to the global financial services provider MetLife.