Saturday 27 August 2016

Green REIT agrees eight-year lease with Vodafone

Published 26/02/2016 | 08:38

LAUNCH: Pat Gunne (left) from Green REIT with Minister for Finance, Michael Noonan TD, John Moran, Department of Finance, and Stephen Vernon, Green REIT, pictured at the Green Reit launch held in the Irish Stock Exchange, Dublin
LAUNCH: Pat Gunne (left) from Green REIT with Minister for Finance, Michael Noonan TD, John Moran, Department of Finance, and Stephen Vernon, Green REIT, pictured at the Green Reit launch held in the Irish Stock Exchange, Dublin

Green REIT, the Irish property investment company, has agreed a new eight-year lease with Vodafone on its Irish headquarters building at Central Park, Dublin 18.

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The lease will see Vodafone remain at the 263,000 sq ft premises until 2026 paying a rent of €7.3m per year to Green REIT.

Vodafone, which is Green REIT's single largest tenant, has agreed to remove its lease break options in 2018 and will receive a rent-free period equivalent to 12 months rent.

Asset management director of Green Property REIT Ventures, Ronan Webster, expressed his delight at Vodafone's commitment to the location.

"As the largest occupier within Central Park, this commitment is a great vote of confidence for the location, underpinning its position as Dublin’s best office park. There are now over 4,000 people working in blue chip companies within Central Park, which will increase further with the completion and letting of Block H, a  new 150,000 sq ft office block, which will be delivered at the end of 2016," Mr Webster said.

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