80,000 sq.ft. landmark office development featuring historic warehouse buildings
IPUT plc (“IPUT”) is pleased to launch the Tropical Fruit Warehouse, an 80,000 sq.ft. landmark office development on Sir John Rogerson’s Quay, Dublin 2 over-looking the Samuel Beckett bridgeand River Liffey.
30-32 Sir John Rogerson’s Quay is the last remaining original warehouse on the quays and, from 1892, were used for the importation of tropical fruit into Ireland. The buildings are being redeveloped by IPUT as the Tropical Fruit Warehouse in recognition of this unique history.The transformative scheme, which has been designed by Henry J Lyons Architects in partnership with renowned façade specialists, Octatube, will deliver over 80,000 sq. ft. of unique river front offices centred around a restored warehouse to include a new six storey office block at the rear overlooking a public square. The design incorporates two floating, fully glazed office floors which cantilever over the warehouse building providingunparalleled panoramic views over the River Liffey.
In keeping with IPUT’s long term approach to investing, the building has been designed to meet the highest sustainability credentials and will also incorporate a significant investment in the public realm - creating a vibrant pedestrian connection from the River Liffey to Whitaker Square at the rear.
Construction has commenced and is scheduled for completion in Spring 2021.
IPUT Chief Executive, Niall Gaffney, said: “The redevelopment of The Tropical Fruit Warehouse is a great opportunity for IPUT to create a landmark office property that is crafted to optimise flexibility and deliver light filled space with panoramic views over the River Liffey and Dublin’s skyline.
We are long term investors and as such we have deliberately pushed the boundaries to develop a building that meets the highest global standards in design and sustainability.”
Joint letting agents for the Tropical Fruit Warehouse are Savills and Cushman & Wakefield.
IPUT plc has completed two new lease agreements on 4,041 sq.m. (43,500 sq.ft.) of office space at 2 & 3 Harcourt Centre, Dublin 2.
Acquired by IPUT in 2013, The Harcourt Centre comprises 6,782 sq.m. (73,000 sq.ft.) of prime office space. Global Consulting Group Mazars has agreed a new lease on 2,880 sq.m. (31,000 sq.ft.) of office space at 3 Harcourt Centre which will see the company remain in occupation of the building into the medium term.
Leading international law firm Eversheds Sutherland will also continue their expansion within the IPUT portfolio, taking 2 additional floors at 2 Harcourt Centre while extending all existing leases and will now occupy 1,161 sq.m. (12,500 sq.ft.) in the building.
Niall Ringrose, Head of Property Management at IPUT plc said:
‘This is a very positive outcome for IPUT. By engaging proactively with our existing occupiers, we can work together to meet future requirements. We are delighted to be in a position to accommodate the continued growth of both Mazars and Eversheds Sutherland within our portfolio.’
Mazars is a global audit, accounting and consulting group employing more than 23,000 professionals in 89 countries. Eversheds Sutherland is a global Top 15 law firm employing over 5,000 people in 67 offices worldwide.
HWBC acted for Mazars while Knight Frank advised Eversheds Sutherland. Other occupiers within the buildings include WBT holdings, Apex Fund Services, Edelman, Iterum Therapeutics and Transitions Optical.
IPUT plc announces that it has completed the acquisition of a large scale, modern logistics building beside Dublin Airport for €19 million.
Unit 1 occupies a high-profile position at the entrance to Dublin Airport Logistics Park and extends to 17,176 sq.m. (184,886 sq.ft.) on a standalone site of 8.4 acres. The building has been acquired with vacant possession following an off-market sales process. IPUT will immediately undertake a substantial programme of works to upgrade the building to meet the highest international logistics standards prior to re-letting. Dublin Airport Logistics Park is strategically situated close to the M1, M2 and M50 motorway network and is located 5 minutes from Dublin Airport. The building benefits from a clear internal height of 9.5 metres with extensive loading access provided via 15 dock levellers and 5 grade level loading doors.
Michael Clarke, Head of Investment at IPUT plc said:
“We continue to strategically increase our exposure to the logistics sector and now own and manage over 2.4 million sq.ft. of high quality logistics space in Dublin. This acquisition reflects our strategy of acquiring large scale logistics buildings in strategic locations which can be repositioned to provide enhanced income returns for shareholders.”
This purchase follows the successful acquisition and refurbishment of two, large scale logistics buildings at North West Business Park, Dublin extending to over 240,000 sq.ft which were both pre-let on long term leases.
Philip Harvey of William Harvey Ltd advised IPUT plc in relation to this acquisition and has been appointed as sole letting agent. Rod Nowlan of Bannon represented the vendors.