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.
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.