Blackrock PLC has sold an office development in Milton Keynes for €3.85 million.
The sale is the company’s second disposal in 2010, having sold a warehouse and office facility in Dundalk earlier in the year for €2.9 million.
According to the company, the €3.85 million price is considerably higher than the property's valuation at last year end.
This latest disposal, which was concluded with a UK property investment company, comprised a 1,570m² office building located at Silbury Boulevard, Milton Keynes, that is currently occupied by Royal Bank of Scotland under a lease that is due to expire in 2014.
Commenting on the transaction, Robert Knox, managing director of Blackrock International Land plc, said: "We are pleased that, despite the challenging operating environment, we have completed our second disposal in 2010 on very satisfactory terms."