IPUT plc together with its partner Cashel Fund Plc announces they have leased 40,000 sq. ft. of office space over five floors at 5 & 6 Earlsfort Terrace, Dublin 2. BioMarin Pharmaceuticals, the NASDAQ listed US biotechnology company, will occupy 26,000 sq. ft. over the 4th, 5th and 6th floors. Harmonic Fund Services and W&W Advisory have leased the 3rd floor (8,600 sq. ft.) and 7th floor (5,100 sq. ft.) respectively. These long-term lease agreements will generate an annual income of €2.42 million for the Fund.
5 & 6 Earlsfort Terrace
As part of ongoing portfolio regeneration, IPUT plc initiated an extensive redevelopment of 5 & 6 Earlsfort Terrace to include the addition of two floors increasing the total office space to 7,400 sq.m. (80,000 sq.ft.). The redeveloped building has now been certified to LEED Platinum and WiredScore Platinum, the highest environmental and connectivity standards available.
The scheme overlooks a new urban park, designed by award winning landscape architect Robert Townshend, which is being delivered as part of the redevelopment of 5 & 6 Earlsfort Terrace and will be open to the public from March 2019.
IPUT Head of Development, Derek Noble, said:
“IPUT’s investment in 5 & 6 Earlsfort Terrace reflects our strategy of setting the highest standards for office buildings in Dublin’s CBD with an emphasis on sustainability and improving the public realm. The quality of this development is reflected by a strong level of leasing activity across the scheme”.
CBRE and Savills are the joint letting agents for the scheme. Colliers International acted for BioMarin while CBRE advised Harmonic Fund Services.
IPUT plc is pleased to announce that its newly developed offices at 47-49 St. Stephen’s Green is WELL Certified Gold. In achieving this certification IPUT becomes the first WELL certified office in Dublin and only the second in Ireland.
The WELL Building Standard is delivered by The International WELL Building Institute™ (IWBI™) and is the leading standard for benchmarking buildings and interior spaces on their commitment to human health and wellness. The WELL standard is based around seven categories of building performance including: air, water, nourishment, light, fitness, comfort and mind.
“We congratulate IPUT for achieving WELL Certified™Gold for their office at St. Stephen’s Green in Dublin,” said IWBI Chairman and CEO Rick Fedrizzi. “IPUT’s market-leading efforts to advance health and well-being through their own office demonstrates to their employees and the Irish industry at large that people are the priority.”
The office space has been designed with collaboration and comfort in mind. Flexible working spaces have been designed to encourage interaction across various project teams with sit-stand desks, stand up meeting spaces, interactive touch screens and access to roof gardens while new meetings rooms, casual meeting spaces allow the team to have an array of facilities when working. Each area includes a considered acoustic design to reduce distractions and create a comfortable working environment.
To ensure optimum working conditions the air quality is continuously monitored via an indoor air sensor which also allows staff to view readings on Co2, humidity, temperature and VOC’s in real-time. In conjunction with this a lighting system designed in line with the body’s circadian rhythm improves the mental and physical health of occupants by reducing light related fatigue.
“By focusing on the health and wellbeing of people we can create spaces that are more comfortable and productive to work in. Achieving WELL Certified Gold for our new offices reflects the ambition of the business to deliver the highest quality design in our buildings.”
Niall Gaffney, Chief Executive, IPUT
The International WELL Building Institute™ (IWBI™) is leading the global movement to transform our buildings and communities in ways that help people thrive. IWBI delivers the cutting-edge WELL Building Standard™, the leading global rating system and the first to be focused exclusively on the ways that buildings, and everything in them, can improve our comfort, drive better choices, and generally enhance, not compromise, our health and wellness.
106,000 sq. ft. of Grade A office space is now fully let.
IPUT plc in partnership with Cosgrave Property Group, announces that the leasing of The Exchange has been successfully completed, with Mediolanum Bank, PartnerRe and Coinbase taking the remaining three floors comprising 60,000 sq.ft. The three new occupiers join existing leading occupiers, Walkers Global, The Food Safety Authority of Ireland and Ronan Daly Jermyn with all tenants taking long term lease agreements.
The Exchange is a five-storey office development comprising 106,000 sq. ft. of Grade A office space which is certified to a LEED Gold environmental standard.
The successful completion of the leasing programme for the building will deliver an income return in excess of 6% for IPUT and has created significant value for the Fund’s shareholders.
IPUT Head of Investment, Michael Clarke, said:
“From the outset, the IPUT team worked successfully with Cosgrave Property Group in the development and leasing of this scheme which has delivered another international quality office asset to the IPUT portfolio. The successful development and letting of The Exchange reflects IPUT’s strategy to regenerate our portfolio and deliver enhanced income and capital returns for our investors.”
JLL and Savills advised IPUT and Cosgrave Property Group on all lettings.