IPUT’s performance in the 2018 GRESB Real Estate Assessment underlines our continuing leadership in Sustainability and responsible Property Management in Ireland.
IPUT has realised its ambition of attaining a 3-star Green Star rating in the 2018 GRESB Real Estate Assessment, in only our 3rd year of participation. Our 2018 score of 67 is a marked improvement on 2017 and was one of the key objectives stated in our 2017 Sustainability Report which is available here.
GRESB (Global Real Estate Sustainability Benchmark) is the global standard for ESG benchmarking and reporting for the real estate sector, which this year included a record 903 property companies, REITs, funds, and developers, jointly representing more than $3.6 trillion in assets under management.
The GRESB assessment evaluates a fund’s performance against seven sustainability factors including the measuring and disclosure of information on performance indicators (such as energy, GHG emissions, water and waste) at an asset level, management policies and practices at a corporate level together with occupier, supplier and investor engagement.
IPUT Chief Executive, Niall Gaffney, commented; “We were the first Irish real estate fund to participate in GRESB and the achievement of a 3-star Green Star Rating was a stated target for 2018. IPUT is leading the way in sustainable real estate investing in Ireland and our 2018 GRESB score of 67 positions us alongside our peer group at a global level in terms of ESG performance.”
IPUT has completed a €160 million property transaction involving the exchange of several high profile office buildings in Dublin City Centre.
As part of the deal, IPUT has acquired Deloitte House, 29 Earlsfort Terrace, Dublin 2. In return the Fund has disposed of assets at 6 Georges Dock, IFSC, Dublin 1 and 40 Molesworth Street, Dublin 2.
Deloitte House is a landmark office building situated on the corner of Earlsfort Terrace and Hatch Street and is occupied by Deloitte on a long-term lease. It combines a strong income profile with redevelopment potential and is situated in Dublin’s central business district where the Fund continues to be particularly active. Following the completion of a number of highly successful development projects, this acquisition is consistent with IPUT’s added value investment strategy.
40 Molesworth Street was redeveloped by IPUT in 2017 to provide a striking Grade A office building, with a ground floor retail unit on the corner of Molesworth Street and Dawson Street. The building is predominantly occupied by Jet.com, which is owned by the Walmart Group, and Specsavers.
6 Georges Dock, IFSC was acquired by IPUT in 2013 and is multi-let to tenants including Hedgeserv, Corvil and Airbus.
IPUT plc is pleased to announce plans to invest in Styne House, a Grade A office building situated on Hatch Street, Dublin 2, including the addition of a new street level café and enhanced amenities for occupiers.
IPUT intends to enlarge the existing reception area of Styne House and lower the ground floor entrance which will allow for the development of an 800 sq. ft. café at street level. This new café will provide a vibrant and attractive space for the occupiers of Styne House and members of the public while enhancing the public realm
This investment is part of the Fund’s rolling refurbishment programme and will substantially enhance occupier amenities including new shower, locker, drying rooms and toilet facilities and increase the number of bicycle parking spaces to 100.
As part of a longer-term asset management strategy for Styne House, IPUT has received approval to construct an additional penthouse level comprising 8,000 sq.ft. of office space at 6th floor.
Designed by RKD Architects, it is anticipated that this phased development will see completion of a new building reception, café and basement facilities upgrade by mid-2019.
Kevin Sweeney of Savills has been appointed to source an occupier for the café space on behalf of IPUT.