Hibernia REIT PLC Completion of 1 Windmill Lane and new letting (6597P)
04 September 2017 - 4:00PM
UK Regulatory
TIDMHBRN
RNS Number : 6597P
Hibernia REIT PLC
04 September 2017
Completion of 1 Windmill Lane and new letting
Hibernia REIT plc ("Hibernia") announces that its 1 Windmill
Lane development ("1WML") has reached practical completion and that
it has let 24,000 sq. ft. in the building to Core Media, Ireland's
largest marketing communications group.
Core Media will occupy the third floor of 1WML and six car
parking spaces on a 21 year lease, with 12 years term certain. It
will pay initial rent of EUR1.4m per annum, including annual
contributions to the reception and Townhall areas and car parking,
and will receive six months rent free.
1WML totals 124,000 sq. ft. of offices, 8,000 sq. ft. of retail
and 14 residential units and is one of five adjacent properties
which Hibernia owns in the SOBO District of Dublin's South Docks,
comprising c. 400,000 sq. ft. of office space either in-place or
under construction.
Hibernia previously announced the letting of 36,000 sq. ft. on
the fourth and fifth floors of the building to Informatica. Today's
announcement means c. 50% of 1WML is now let and discussions
continue with other potential tenants regarding the remaining
space.
Mark Pollard, Hibernia's Director of Development, said:
"We are delighted to have completed 1WML on schedule and to
welcome Core Media and Informatica to the building. In addition to
its highly efficient floorplates and excellent public transport
connections notable features include its large and highly flexible
reception and Townhall areas, its best in class digital
infrastructure and its low environmental impact: these are all
features on which occupiers are increasingly focussed."
Justin Cullen, Director of Core Media, commented:
"We are really excited about moving some of our teams into 1WML
as part of the continued development and growth of our business.
Its proximity to our Sir John Rogerson's Quay office means that we
will be able to create a considerably more connected group of
companies and teams to drive collaboration and innovation within
our business and for our clients."
ENDS
Contacts:
Hibernia REIT plc +353 1 536 9100
Mark Pollard, Director of Development
Tom Edwards-Moss, Chief Financial Officer
Murray Consultants
Doug Keatinge: +353 86 037 4163,
dkeatinge@murrayconsultants.ie
Jill Farrelly: +353 87 738 6608,
jfarrelly@murrayconsultants.ie
About Hibernia REIT plc
Hibernia REIT plc is a Dublin-focused Real Estate Investment
Trust ("REIT"), listed on the Irish and London Stock Exchanges,
which owns and develops Irish property. All of Hibernia's portfolio
of properties is in Dublin and it specialises in city centre
offices.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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