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Hibernia funds €38m bridge loan to unlock Cumberland House purchase and refurbishment

Hibernia REIT has extended the existing owners of Cumberland House, the Christopher Bennett Group, with a €38m six-month bridge loan to enable the sale of vacant office block in Dublin 2 to the Irish real estate investment trust ahead of a major refurbishment.

Morretino Limited, the subsidiary of the Christopher Bennett Group which owns the circa 112,000 sq ft Cumberland House, was placed into receivership on 29 May under Luke Charleton of Ernst

  • Block B: construction of a 4-storey building (including lower ground floor) providing c. 2,674 sqm (c.28,782 sq ft) GFA office floor space.
  • Eircom, the Irish telecommunications company, was the last tenant to depart after moving to its new headquarters in Heuston South Quarter, on the west edge of Dublin city.

    Also this morning, Hibernia confirmed it had entered a contract with JJ Rhatigan

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