Green Property has confirmed the purchase of Microsoft's European Operations Centre office portfolio at Sandyford, and on the South County Dublin Business Park, for €72.6 million (£57.2 million). It is a sale and 20-year leaseback deal.

The initial rent is €4.9 million. This puts it on a yield of 6.8 per cent. The portfolio consists of four office blocks with 305,000 sq ft of space and parking for 1,118 cars. Three of the buildings are clustered campus style, sharing multilevel car parking on the Sandyford Estate while the fourth, comprising three interconnected three-storey office buildings, is in the South County Business Park.

Green's managing director, Mr Stephen Vernon, said that while "price was a major consideration, Green Property's success in winning the Microsoft deal was not solely price dependent". Green also "offered a strong track record".

The group has also begun what he described as a "unique atrium development representing a new concept in suburban business accommodation" at the Sandyford Estate, adjacent to the Microsoft operation.