Irish property investment company Green REIT has confirmed a further two lettings totalling 55,300 sq ft at its Central Park office development in Leopardstown, Dublin which is now fully let.
Computer Generated Image of Block H, Central Park
MasterCard Ireland Limited has made the decision to increase its presence at the site, where it is already a sub-tenant in the Vodafone building, by taking the 10,100 sq ft penthouse floor of Block C on a three year lease.
Meanwhile, Sage Hibernia (Services) Limited has signed a 20 year lease agreement for the ground and first floors of Block G, amounting to 45,200 sq ft. Both lettings achieved €25 per sq ft.
The lettings bring in a combined contracted annual rent of €1.527 million per annum. This sum will be split between Green REIT and its joint venture partner LVS II CP Investor Ltd, both of whom have held a 50 per cent stake in the office park since its acquisition in March 2014.
This latest wave of lettings, along with ensuring the development is now fully occupied, have bolstered the quality of the tenant mix at Central Park, which already counts prestigious names including Vodafone, Ulster Bank, Bank of America Merrill Lynch, Tullow Oil plc, Leaseplan and Salesforce as occupants.
Block G has proved particularly popular in recent months, as Web Reservations International took up the lease for the entire second floor in May of this year.
In order to ensure that the momentum built by this exciting development continues to grow in the future, Green REIT has initiated a further construction phase for an additional unit known as Block H (pictured), which will offer 147,000 sq ft of high quality office space. The company confirms that progression on this phase is going well, with the block expected to be completed by December 2016.
Asset Management Director Ronan Webster, of Green Property REIT Ventures Limited, believes that the new space will prove just as popular as the existing units.
He says; “We are delighted to secure Sage and MasterCard as occupiers in Central Park, both of which are highly regarded and expanding businesses.
“Since acquiring the property in March 2014 we have now successfully secured lettings for all of the remaining space of 89,000 sq ft at Central Park, concluding a successful leasing programme in conjunction with our agents, CBRE and Knight Frank.
“This should bode well for future lettings of Block H, construction of which is progressing well, given the shortage of high quality Grade A space in Dublin.”
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