Primevest Capital Partners acquires third car park in Dublin

On 10 of July Primevest Capital Partners has acquired the Christchurch car park on Werburgh Street in Dublin for its 4th institutional fund, as a further expansion of its investment portfolio.

Situated on the edge of the Irish capital’s main retail area, the newly-acquired location is surrounded by a variety of offices, hotels and theatres. Thanks to these different anchors, the car park benefits from a wide range of customers throughout the day. The above-ground multi-storey building offers 213 parking spaces and is operated by Q-Park.

Floris Haentjens, Acquisition Manager Parking: “This kind of car park is exactly what we are looking for, and we are open to making new investments throughout most of Europe. This is our 3rd acquisition in Dublin – and already the 48th car park in our port-folio. Its acquisition further strengthens our high quality, sustainable portfolio of car park investments across Europe, bringing our investment volume in the car parks segment to a total of over €900 million”.

Bas Magielse, Fund Manager, adds: “Dublin is an attractive city to invest in. The Christchurch car park has a very favourable location and benefits from a tenant with a good covenant. As an asset, it is expected to provide our investors in this segment a highly stable and relatively attractive cash return.”

For further information, feel free to contact:
Lisette van der Ham
Head of Marketing & Corporate Communications