IPUT Leases 40,000 sq. ft. at 5 & 6 Earlsfort Terrace, Dublin 2 - Construction Network Ireland - Construction Network Ireland

Back to News

Next Article

Published in Commercial Property on 10/01/2019

IPUT Leases 40,000 sq. ft. at 5 & 6 Earlsfort Terrace, Dublin 2

CNI Editor reports

IPUT has leased 40,000 sq. ft. of office space over five floors at 5 & 6 Earlsfort Terrace, Dublin 2. BioMarin Pharmaceuticals, the NASDAQ listed US biotechnology company, will occupy 26,000 sq. ft. over the 4th, 5th and 6th floors. Harmonic Fund Services and W&W Advisory have leased the 3rd floor (8,600 sq. ft.) and 7th floor (5,100 sq. ft.) respectively. These long-term lease agreements will generate an annual income of €2.42 million for the Fund.

5 & 6 Earlsfort Terrace

As part of ongoing portfolio regeneration, IPUT plc initiated an extensive redevelopment of 5 & 6 Earlsfort Terrace to include the addition of two floors increasing the total office space to 7,400 sq.m. (80,000 sq.ft.). The redeveloped building has now been certified to LEED Platinum and WiredScore Platinum, the highest environmental and connectivity standards available.

The scheme overlooks a new urban park, designed by award winning landscape architect Robert Townshend, which is being delivered as part of the redevelopment of 5 & 6 Earlsfort Terrace and will be open to the public from March 2019.

Commenting today on the letting, Derek Noble, Head of Development said “IPUT’s investment in 5 & 6 Earlsfort Terrace reflects our strategy of setting the highest standards for office buildings in Dublin’s CBD with an emphasis on sustainability and improving the public realm. The quality of this development is reflected by a strong level of leasing activity across the scheme”.

CBRE and Savills are the joint letting agents for the scheme. Colliers International acted for BioMarin while CBRE advised Harmonic Fund Services.