Monday 18 December 2017

Tech firm takes 27 of 29 units at Wyckham Point

Block 3 at Wyckham Point in Dundrum, south Dublin
Block 3 at Wyckham Point in Dundrum, south Dublin
Peter Flanagan

Peter Flanagan

A tech company has let 27 apartments in Dundrum, in the latest sign of how difficult companies are now finding it to secure residential accomodation for their workers in Dublin.

The company has taken the space at Wyckham Point in Dundrum in south Dublin.

The units are the first to have been put on the market by Hibernia Reit.

In a stock exchange announcement, Hibernia said it had let 27 of the 29 units at Block 3 Wyckham Point had been let to a "leading international technology firm at rents in aggregate 9pc ahead of September 2014 rental values".

"The tenancies, on standard annual terms, commence now and will produce gross rent of €600,000 per annum.

"Additionally, Hibernia has secured bookings for the rent of a further 35 units, the completion of which is expected by the end of June 2015...which would produce gross rent of €700,000 per annum, the firm said.

Hibernia chief executive Kevin Nowlan was jubilant at the deal.

"This letting, at levels ahead of the estimated rental value, underscores the quality of Wyckham Point and its attractive location close to Dundrum Shopping Centre, the Luas line and the M50," he said.

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