Pre-let of two floors at 1 Windmill Lane
Hibernia REIT plc (“Hibernia”) announces that it has pre-let two floors in its 1 Windmill Lane development (“1WML”) to Informatica Ireland EMEA Unlimited Company (“Informatica”), part of the Informatica Group, a global leader in data integration services headquartered in the United States.
Informatica will occupy the fourth and fifth floors of 1WML, totalling 35,000 sq. ft., and 10 car parking spaces on a 17 year lease, with 12 years term certain. It will pay initial rent of €2.1m per annum, including annual contributions to the reception and Townhall areas (€2.0m per annum excl. car parking), and will receive six months rent free from practical completion, which is expected in mid-2017.
1WML totals 122,000 sq. ft. of offices, 7,000 sq. ft. of retail and 14 residential units under development on a one acre site and is one of five adjacent properties (including SOBO Works) which Hibernia owns in the SOBO District of Dublin’s South Docks, comprising over 370,000 sq. ft. of office space either in-place or under construction.
Mark Pollard, Hibernia’s Director of Development, said:
“We are delighted to have agreed terms with Informatica and look forward to welcoming them to 1WML. The building, which has been designed for multi-let use, continues to make good progress towards expected practical completion in mid-2017, well ahead of original guidance. With the structure now fully enclosed and interior works underway, the quality of the space being delivered is becoming clear, with the stand-out features being the reception and Townhall areas, which are unusual in their scale and flexibility and are attracting positive feedback. Discussions are on-going with a number of other potential tenants.”
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