Ronan signs up American pharma giant in D4 deal
Developer Johnny Ronan's company, Ronan Group Real Estate (RGRE) signed a deal last Friday night with US pharmaceutical giant Theravance which will see the company take up over 6,000 sq ft of office space at Connaught House on Burlington Road in Dublin 4.
Theravance, which operates currently from serviced offices at Fitzwilliam Hall on nearby Fitzwilliam Place, has agreed to pay RGRE a rent of €62 per sq ft.
The deal which was brokered by Jim O'Reilly of agents Knight Frank will see the NASDAQ-listed biopharma company occupy 6,087 sq ft on the fourth floor of Connaught House on a 10-year, full repairing and insuring (FRI) lease.
The agreed rent of €62 per sq ft is at the upper end of the rents currently being achieved by Grade A office space within the most sought-after areas of Dublin's central business district (CBD).
With over 6,000 sq ft at its disposal, Theravance, will have the capacity to accommodate approximately 60 employees at its new Irish headquarters.
Connaught House is already home to a number of high-profile companies including property agents, CBRE, Apollo Aviation, Jazz Pharmaceuticals, Groupon International, and Alkermes.
Sunday Indo Business