Tuesday 22 January 2019

Iput signs new tenants at Dublin's Earlsfort Terrace

Stock image
Stock image
Ronald Quinlan

Ronald Quinlan

IRISH property fund Iput and partners Cashel Funds Plc have secured tenants for nearly 40,000 sq ft of office space at Nos 5 and 6 Earlsfort Terrace.

Nasdaq-listed US biotechnology company Biomarin Pharmaceuticals will occupy 26,000 sq ft across floors four, five and six of the building.

Harmonic Fund Services and W&W Advisory are leasing the third and seventh floors respectively.

Taken together, the long-term lease agreements will generate annual rental income of €2.42m for the fund.

Located directly opposite the National Concert Hall and beside the five-star Conrad Hotel, Nos 5 and 6 Earlsfort Terrace were probably best known for being the long-standing home of law firm Arthur Cox.

The company relocated in 2017 to a new headquarters purpose built for it by the Clancourt Group on the corner of Earlsfort Terrace and Hatch Street.

Following the departure of Arthur Cox to Ten Earlsfort Terrace, Iput spent €20m on the redevelopment of Nos 5 and 6 Earlsfort Terrace.

Apart from bringing the property up to both LEED Platinum and WiredScore Platinum ratings, the fund increased its total office space to 80,000 sq ft by adding two floors.

A new urban park at the scheme, designed by award-winning landscape architect Robert Townshend, is expected to open to the public in March.

Irish Independent

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