Hibernia has agreed to lease all the office accommodation in 1 Sir John Rogerson’s Quay (“1SJRQ”) to HubSpot, a leading provider of inbound marketing and sales software.
HubSpot, which is already a tenant of Hibernia in One & Two Dockland Central (“1 & 2DC”) where it will continue to occupy 73,000 sq. ft., is taking a 20 year lease of 1SJRQ, with 12 years term certain, commencing in June 2019. The lease covers 112,000 sq. ft. and 31 parking spaces on which HubSpot will pay, after a four-month rent free, an initial rent of €6.8m per annum, equating to €59.75 per sq. ft. for the office space. The date of HubSpot’s break options in 1 & 2DC has been extended by three and a half years to align with 1SJRQ.
1SJRQ is a high profile riverside development and is reaching the final stages of construction: when finished in early 2019 it will comprise 112,000 sq. ft. of offices and 7,000 sq. ft. of food & beverage space. It is one of six adjacent properties owned by Hibernia which make up the Windmill Quarter in Dublin’s South Docks and which will total c. 400,000 sq. ft. of office space along with further residential, food & beverage and gym areas when finished in early 2019.
Justin Dowling, Hibernia’s Head of Asset Management said Hibernia are delighted to be letting 1SJRQ to Hubspot building on the strong relationship developed over the past three years. “With its distinctive restored tramway façade and Dockers Pub, 1SJRQ combines historic Dublin with class-leading new office space. We look forward to working with HubSpot to complete their new Dublin headquarters and to welcoming them to the Windmill Quarter.”