Property investment company Hibernia Reit has acquired a 0.75 acre freehold site at 1-6 Sir John Rogerson’s Quay, Dublin 2 for € 17.75 million in an off-market transaction.

The site, which fronts onto the river and adjoins Hibernia’s recently acquired Observatory Building, has existing planning permission for 102,000 sq. ft. net lettable of offices, c. 5,000 sq. ft. of retail space, three residential units and 34 parking spaces.

With Hibernia’s Windmill Lane Site and Hanover Building immediately behind and the Observatory Building adjoining, Hibrenia said that the acquisition gives it ownership of a full riverside quadrant in the south docks area.

This acquisition is Hibernia's eleventh since listing on the Irish Stock Exchange in December 2013. Following completion of the acquisition of the site and its recent acquisition of The Forum building in the IFSC, Hibernia will have invested € 393m, with a further € 63m committed.