Building trust through our track record and our conduct
2023 Responsibility Report
Our 2023 Responsibility Report outlines the progress we have made in developing and managing an increasingly sustainable portfolio.
Q2 2024 Update
The second quarter of 2024 has been another active one for the Fund. We collected 100% of rent, which enabled the payment of a cash dividend of €26.1 million or €11.50 per share. The total shareholder return was 0.1%. We pre-let the second and third floors at Fifteen George’s Quay during the quarter and achieved practical completion on Four Wilton Park, bringing our contracted rent to a new record of €149 million. Meanwhile, global technology company Stripe recently announced plans to establish its new Irish headquarters at One Wilton Park. Asset values continue to recalibrate, but we expect more positive momentum in H2, particularly now that monetary policy has started to ease.
2023 Year in Review
We pride ourselves on providing the very best workplaces in Europe - not just for our shareholders and occupiers, but also for our neighbours, our city and our planet. We look on every investment and development project as an opportunity to add joy and vibrancy to the daily lives of the people who work there, and positively contribute to the wider local community by regenerating and revitalising our city.
2023 Financial Statements
Despite the macroeconomic backdrop and the interest rate-fuelled capital value movements in our sector during 2023, we achieved full rent collection, added €6.5 million in new rental income, and paid a dividend of €107 million, all while maintaining one of the lowest loan-to-value rates in the industry.
Outperforming industry benchmarks
We have outperformed the MSCI Total Property Return benchmark across the last 20 years, demonstrating our consistent ability to deliver value for our shareholders.
