Green REIT, announces that it has commenced the construction of Building I at Central Park, Leopardstown, Dublin 18. This follows the completion and successful letting of the entire of the adjacent Building H, which comprises 14,700 m² (158,000 ft²) of lettable space, to Allied Irish Banks in May 2017.
Building I will extend to approximately 9,300 m² (100,000 ft²) of lettable space, together with 156 basement car parking spaces, and will be available in its entirety or on a floor-by-floor basis. Having already excavated the double level basement car park as part of the development of the adjacent Building H, Building I is scheduled for delivery in Q4 2018.
Building I is being developed with column-free floor plates, with a standard floor plate extending to 1,230 m² (13,200 ft²), which will be a first for a suburban Dublin office building. The building will also have the benefit of employee facilities such as dedicated shower and bike storage, with large terraces on the penthouse floor offering excellent views across the Dublin Mountains.
Central Park is Dublin’s premier office park, with full occupancy throughout the 79,000 m² (850,000 ft²) of built space and a total contracted rent of €23.7 million per annum. Following the completion of Building I in Q4 2018, the remaining 4.5 acres of developable land at Central Park will provide further optionality to Green REIT for additional development, where planning consents are in place for a minimum of a further 28,000 m² (300,000 ft²) of office space.
Paul Culhane, Development Director of Green Property REIT Ventures, commented: “We are pleased to commence the construction of our next office building in what is widely acknowledged as Dublin’s premier office park, and we look forward to adding to the list of blue chip tenants in the park which includes AIB, Ulster Bank, Bank of America Merrill Lynch, Vodafone and Salesforce.”