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M&G purchases new D4 apartments for €100m

Eglinton Place M&G
/ 22nd February 2023 /
George Morahan

London-listed M&G Real Estate has purchased a buy-to-let apartment building at Eglinton Place in Donnybrook for €100m through its European Living Property Fund.

The property comprises 148 one-, two-, and three-bed apartments, situated opposite Energia Park, that will be ready for occupation in Q2, and the Richmond Homes development is targeting a BREEAM 'Very Good' certification.

The building is equipped with a district heating system, solar roof panels and hot water heat pumps.

Amenities include a fitness suite, residents lounge, library, laundry room and two rooftop terraces. The development has 208 bicycle spaces and 75 car parking spaces including some electric vehicle charging points.

M&G launched its European Living Property Fund in early January with its maiden acquisition was 124 serviced apartments in Helsinki for €75m.

In Association with

M&G Eglinton Place
A CGI rendering of the Eglinton Place apartment building.

Marcus Eilers, head of European Residential at M&G Real Estate, said Eglinton Place would command strong rents and delivery resilient returns for investors due to restricted supply of housing.

“Through this acquisition, we are building on our commitment to provide sustainable homes that support wellbeing, sustainability, and community and we are looking for further opportunities with developers and property owners across other key European markets," he added.

The wider M&G plc, which was formed in 2017 following the merger of M&G and Prudential's UK and Europe savings and insurance operations, controls £77bn in assets and has European offices in Amsterdam, Frankfurt, Luxembourg, Madrid, Milan, Paris and Stockholm.

(Pic: M&G Real Estate)

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