WeWork expands its presence leasing prime location in Dublin
Shared workspace provider WeWork has signed an agreement with Green REIT to lease 5 Harcourt Road in Dublin 2.
WeWork, the world’s largest provider of collaborative workspaces, will lease the entire building at an annual rent of €3m over 20 years.
There is no break in the lease option.
“We are delighted to lease the entire of 5 Harcourt Road to WeWork, continuing the successful de-risking of our development programme, adding a further €3m to our annual rent and extending our income security with 20 years certainty," Paul Culhane, development director of Green Property REIT, said.
"We look forward to welcoming WeWork to the building, as it broadens its existing presence in this vibrant part of Dublin city centre."
The newly developed office building in Dublin city centre is due for completion in this month and comprises 4,650 sq. metres of lettable space over seven floors.
In June it was announced that WeWork is to lease all the office space at the former Central Bank at Dublin's Dame Street.
Meanwhile Green REIT also confirmed that it has completed the sale of Westend Retail Park for €147.7m, the contract for which was exchanged on 25 May 2018.