Today: October 17, 2017, 12:10 am
  
Business

IPUT plc Pre-Lets 10 Molesworth Street to AIB plc

PR-Inside.com: 2017-10-12 13:04:01

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
Jonathan Neilan
+353-1-663-3686
Jonathan.Neilan@fticonsulting.com

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

  • 115,000 sq. ft. Office development on Molesworth Street pre-let to AIB
  • 20-year lease
  • Newly built contemporary office building set over seven floors
  • Landmark building in Dublin’s city centre with LEED Platinum environmental certification

IPUT Portfolio

  • IPUT has now leased a total of 400,000 sq. ft. of commercial space in 2017 YTD
  • Development programme now de-risked with current pipeline fully pre–let
  • New leases in 2017 add €16 million or 19% to IPUT’s rental income stream
  • IPUT contracted annual rental income to exceed €102M by year end 2017
  • IPUT portfolio comprises 95 properties, 99% by value situated in Dublin, with a NAV* of €2.2 billion

*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.

Press Information


Published by
Hossam Abdel-Kader
+43 1 9582319
e-mail
www.pr-inside.com/



# 399 Words
Related Articles
More From The Author
Merz and Teijin Announce Partnership to Bring [..]
Merz, a global leader in aesthetics and neurotoxins, and Teijin Limited, a technology-driven global group operating in the fields [..]
Unquote to Launch Major New Private Equity [..]
Unquote : Paul Tilt, Head of Funds Research at Acuris commented. “Being in daily contact with over 500 global investors [..]
3E Company Evolves Brand Identity to Become [..]
Brand Evolution Builds on 30 Years of Leadership and Reflects Strong Focus on Customer Experience Carlsbad, Calif., October 12, [..]
Wolters Kluwer’s Finance, Risk & Reporting Named [..]
Wolters Kluwer’s Finance, Risk & Reporting business is the winner of Wealth & Finance International’s Integrated Regulatory [..]
FXecosystem Launches FX-VPS, Offering Speedy Set Up [..]
FXecosystem has launched its FX-VPS – a cloud-based Virtual Private Servers (VPS) offering for the financial markets. FXecosystem’s [..]
 
More From Business
Buro Seating Introduces Mentor Chairs in Australia
Buro Seating, a leading wholesaler of quality ergonomic seating in Australia, is launching the Mentor chair this month. This [..]
World's Largest Electronics Marketplace Opens in Hong [..]
HONG KONG, Oct 13, 2017 - (ACN Newswire) - The 37th HKTDC Hong Kong Electronics Fair (Autumn Edition), organised by [..]
Harvard Risk Management Corporation Legal Shield Plans
Harvard Risk Management Corporation is the largest benefit broker for legal and identity theft plans in the US. We approach [..]
Bluelime achieves RIBA and ARB status
It is with great pride that we can confirm Bluelime Home Design has been awarded Chartered Practice status by the [..]
Create Your Dream Kitchen – Smeg Cashback [..]
This October appliance store Whitfords has amazing specials on premium kitchen brand Smeg. Customers can receive up to $1000 cashback [..]

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.