Cineworld, Parnell Street, Dublin 1, Ireland

17 screen IMAX Cinema centrally located in Dublin and totalling 140,000 sq ft.

The property was acquired in April 2014 at which time it was held on 25 separate leases by Cineworld UK Ltd, expiring in either 2023 or 2033.

Owing to our relationships with the tenant and their advisers we were able to negotiate the re-gearing of the leases with Cineworld to surrender the existing leases and re-grant a new 25 year lease of the whole subject to fixed uplifts.

The property was then sold in December 2014 for €32.17m to Standard Life Investments.