Hibernia REIT plc (“Hibernia”) announces two further pre-leases of 21,500 sq. ft. currently under refurbishment in Two Dockland Central and an update on its recently formed serviced office partnership in Clanwilliam Court.
HubSpot has extended its 16,000 sq. ft. pre-let in Two Dockland Central announced in February 2017 to 32,000 sq. ft. on the same terms (i.e. initial rent of €52.50 per sq. ft. and a 19 year lease expected to commence in August 2017): HubSpot already occupies 27,500 sq. ft. in the adjoining One Dockland Central. In addition, ENI, a subsidiary of the listed energy company, has pre-let 5,500 sq. ft. at an initial rent of €55 per sq. ft. on a 20 year lease expected to commence in September 2017. Works to refurbish Two Dockland Central and all its common areas to Grade A standard are due to complete in late 2017: following these latest lease agreements c. 75% of the 73,000 sq. ft. building is let.
Hibernia’s serviced office partnership with Iconic Offices in Block 1, Clanwilliam Court commenced trading in April 2017. As at the end of April over 75% of the workstations in the 21,000 sq. ft. space and over 50% of the available co-working memberships were contracted, significantly ahead of projections.
Frank O’Neill, Chief Operations Officer of Hibernia, said:
"We are delighted to have leased a further 21,500 sq. ft. in Two Dockland Central to HubSpot and ENI. The building is now around 75% let, well in advance of the expected completion of the refurbishment works in late 2017. "The serviced office partnership with Iconic in Clanwilliam Court has got off to a strong start, underlining the quality of the offering and the demand for flexible workspace."
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