100% of IPUT current development pipeline is now pre-let
IPUT plc Pre-Lets 10 Molesworth Street to AIB plc
FTI Consulting for IPUT plc
IPUT plc, the largest unlisted property vehicle in Ireland, announces that it has pre-let the entire of 10 Molesworth Street to leading Irish financial services group Allied Irish Banks plc (‘AIB’ plc). The 115,000 sq. ft. (10,680 sq. m.) landmark office building is located at the heart of Dublin’s commercial and government quarter and is due for completion in Q1 2018.
10 Molesworth Street
*Net Asset Value as at 30 September, 2017
IPUT plc, Chief Executive Officer, Niall Gaffney, commented: “We are delighted to welcome AIB plc to 10 Molesworth Street and to the IPUT portfolio. The completion of this major letting to AIB means we have now fully pre-let all of our development projects, bringing our total lettings for the year to date 2017 to 400,000 sq. ft, generating €16 million in new rent for our shareholders in 2017.
We designed 10 Molesworth Street to reach the highest possible standards of sustainability and it will be the first newly constructed office building in Ireland to achieve platinum accreditation through the LEED rating system.
We take a long term approach to investment and this strategy is reflected in the selective redevelopment of our properties. As we see with the successful completion and leasing of 10 Molesworth Street, this form of investment both enhances the quality of our building stock and regenerates our rental income for the longer term."
JLL and Knight Frank handled the letting for IPUT plc; AIB plc was advised by Cushman & Wakefield.
Disclaimer: If you have any questions regarding information in this press release please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims the content included in this release.