Allied Irish Banks picks new Dublin offices

By Kasmira Jefford - Thursday, October 12, 2017 15:47

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IPUT, Ireland's largest unlisted property vehicle, has pre-let the entire of 10 Molesworth Street in Dublin to leading Irish financial services group Allied Irish Banks.

The 115,000 sq ft landmark office building is located at the heart of Dublin’s commercial and government quarter and is due for completion in the first quarter of next year.

IPUT, chief executive, Niall Gaffney, said: “We are delighted to welcome AIB plc to 10 Molesworth Street and to the IPUT portfolio. The completion of this major letting to AIB means we have now fully pre-let all of our development projects, bringing our total lettings for the year to date 2017 to 400,000 sq ft generating €16m in new rent for our shareholders in 2017.

We designed 10 Molesworth Street to reach the highest possible standards of sustainability and it will be the first newly constructed office building in Ireland to achieve platinum accreditation through the LEED rating system.

We take a long term approach to investment and this strategy is reflected in the selective redevelopment of our properties. As we see with the successful completion and leasing of 10 Molesworth Street, this form of investment both enhances the quality of our building stock and regenerates our rental income for the longer term."

JLL and Knight Frank handled the letting for IPUT plc; AIB plc was advised by Cushman & Wakefield.

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