IPUT plc, Ireland’s premier property fund (the ‘Fund’), hosts its AGM today at 12.00 noon in the Shelbourne Hotel, 27 St Stephen’s Green, Dublin 2.
Mr. John Mulcahy, Chairman of IPUT plc, noted in his annual statement:
“2017 was a landmark year for IPUT as the Fund reached 50 years in operation, making it one of the most enduring property funds in Europe. IPUT has delivered consistent income returns to shareholders over the past 50 years and this continued in 2017 when we generated a dividend yield of 4%.
I am confident that IPUT’s business model and strategy of focusing on investing in Irish commercial property, with a particular focus on prime large-scale Dublin assets, will continue to generate consistent investment returns for our shareholders. Our current portfolio of high quality assets, rented to high quality tenants, is well positioned to deliver this principal objective.”
Mr Niall Gaffney, Chief Executive of IPUT plc, noted in his annual review:
“Our strategy of regenerating portfolio income continues to drive the performance of the Fund. Having de-risked the current development pipeline we have further regeneration opportunities across our estate, in particular within the Dublin city centre office market. These initiatives will potentially grow shareholder dividends by approximately 20% over the next five years.”
For more information and to download a copy of the IPUT 2017 Annual Report, please visit iput.com
To accommodate our continued growth, we have moved to our newly developed offices at 47-49 St Stephen’s Green. By investing in our own Estate, our new office allows us the opportunity to create a unique working environment that promotes the wellbeing of our people.
Wellness & Sustainability
IPUT’s investment in the built environment and its impact on human health and well-being is reflected in the careful design of our new office. Our new space is on track to achieve WELL Gold certification, which is based on seven categories of building performance; air, water, nourishment, light, fitness, comfort and mind. WELL certification is only in its infancy in Europe with less than 10 projects achieving certification to date. The new office has also achieved an A3 energy rating placing it in the top 1% of commercial buildings in Ireland. This rating is reflective of our focus on the energy efficiency of our buildings throughout our portfolio.
The new 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.
Looking to the future, we have heavily invested in our IT & AV systems. Wireless casting and touch screens have been installed to encourage collaboration and activity in meetings, while Microsoft Surfaces have been issued allowing the team to easily work from different spaces with seamless integration with new AV systems.
Enriching our Buildings
The relationship between artwork and architecture gives our buildings life and personality. Our goal as owners and developers of over 5 million sq.ft. of commercial real estate in Dublin, is to create spaces that people enjoy. The quality of finishes and level of detailing within the office represents IPUT’s commitment to innovative and considered design.
“The move to St Stephen’s Green reflects both the ambition and personality of our business. We are authentic about promoting quality design across our Estate and in doing so, we recognise that thoughtful design will serve to improve the wellbeing of people.” Niall Gaffney, IPUT Chief Executive.
IPUT plc is pleased to announce that luxury retail brand, The White Company, have leased 800 sq m (8,527 sq ft) of high quality retail space over three floors at Seventy-Two Grafton Street, Dublin 2 on a long-term lease.
Seventy-Two Grafton Street was acquired by IPUT in 2014 for € 12.5 million and the building was thoughtfully restored and reconfigured to highlight the stunning curved-vaulted ceiling at first-floor level while restoration works have been carried out on the external façade to protect the rich heritage of the building.
IPUT’s Head of Investment, Michael Clarke, said: “Seventy-Two Grafton Street has been extensively refurbished and redesigned, at a cost of €2m, to meet the demands of leading international retailers. This project is part of our strategy to regenerate our portfolio and create value for investors. The repositioned asset will generate an income yield on cost of c. 5.5% and a profit on cost of 30%.”