LinkedIn chooses Dublin for 150,000 sq ft HQ

By Paul Norman - Tuesday, October 09, 2018 8:17

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IPUT has prelet all 150,000 sq ft of offices at One Wilton Park in Dublin to LinkedIn, the professional network and a subsidiary of the Microsoft Corporation.

The building has been prelet on a 25-year lease on the site of the former Fitzwilton House which IPUT has owned since 1982. Construction commenced on site in June 2018 with Sisk appointed as the main contractor. The building is scheduled to be completed in the fourth quarter of 2020.

Last month LinkedIn prelet an 83,000 sq ft headquarters in London's Farringdon.

Later this year, IPUT intends submitting a planning application for the re-development of the remainder of its estate at Wilton Park which includes Wilton Park House and Gardner House, plus their associated public spaces.

IPUT has already concluded an initial programme of improvements to the park itself which also comes within its ownership. Upon completion, IPUT’s estate in the area will total to 600,000 sq ft of offices and a range of local amenities.

The letting brings the total value of new leases signed by IPUT over the last 12 months to over €20.5m with an average WAULT of 12.6 years

One Wilton Park has been aawarded the WiredScore ‘Platinum’ digital connectivity rating - the highest WiredScore rating placing it among the best-connected buildings in the world

IPUT Chief Executive Officer, Niall Gaffney, said: “The pre-letting of One Wilton Park to LinkedIn is hugely significant for us and represents one of the largest pre-lets in the Dublin office market. One Wilton Park will deliver a projected income yield on cost of in excess of 9% and brings the total value of new leases signed over the last 12 months to over €20.5m. This pre-letting is an important milestone in the delivery of the plans we have for Wilton Park and will support continued growth in the dividend we pay to our shareholders.”

pnorman@costar.co.uk

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