Blackrock International announce €9m land acquisitions
Blackrock International Land plc has today announced the acquisition of two new properties, with a combined initial consideration of more than €9m.
The firm has bought lands comprising 31 acres located at Broxburn, Scotland, which is expected to form part of a major mixed-use development scheme by the group in the area.
The land adjoins Blackrock’s existing holding in this expanding suburb of Edinburgh. The acquisition brings the group’s total acreage at this location to 105 acres.
Blackrock International also bought 34,000 square feet of modern warehouse and office accommodation at Willsborough Industrial Estate, Dublin.
The property is let to a subsidiary of British Telecom Group plc for an unexpired term of 18 years at a rent of €301,563 per annum, with a rent review outstanding since 2005, according to the firm.
“We are pleased to have concluded these additions to the Group’s property portfolio,” said Blackrock chairman Carl McCann.
“We have a number of other transactions under consideration at this time and are hopeful of further announcements later this year.”
