IPUT lets 18,500 sq. ft. penthouse floor at 1 Grand Canal Square - Construction Network Ireland - Construction Network Ireland

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Published in Commercial Property on 17/07/2016

IPUT lets 18,500 sq. ft. penthouse floor at 1 Grand Canal Square

#citadel #iput

CNI reports

The completion of this substantial office letting is very encouraging given that IPUT has over 340,000 sq ft of office space currently under construction in Dublin’s central business district, all on schedule to be delivered over the next 18 months.

IPUT plc is pleased to announce the letting of 18,500 sq. ft. of penthouse office space at 1 Grand Canal Square to Citadel Securities. Citadel Securities is a leading global market maker across a broad array of fixed income and equity securities. It is understood that its Dublin office is part of the expansion of its market-making business in Europe serving a broad range of clients including asset managers, banks, broker-dealers, hedge funds, government agencies and public pension programs. Citadel Securities has leased the 18,500 sq. ft. penthouse floor at 1 Grand Canal Square at an annual rent in the region of €60 per sq. ft.

1 Grand Canal Square is one of Dublin’s landmark modern office buildings, occupying a pivotal waterfront location overlooking Grand Canal Harbour in the centre of Dublin’s South Docklands. The building is a Grade A, six storey building extending in total to 120,017 sq. ft. and notable occupiers include HSBC, Accenture and Bank of Ireland.

Commenting, IPUT CEO Niall Gaffney, said: “The demand for high quality, modern office accommodation in Dublin’s central business district remains very strong. We are continuing to see tenant demand across our office portfolio from international firms wishing to locate into Dublin, and from Irish companies expanding their operations. We are delighted that Citadel Securities, a global leader in market making and financial trading services, has chosen Dublin and in particular, an IPUT building for its latest expansion in Europe.”

CBRE handled the letting for IPUT plc and Citadel Securities were advised by Colliers International.