Hibernia REIT has signed a 20-year lease with communications regulator ComReg that will see it take more than 30,000 square foot of office space in its property on Dublin's Guild Street at an initial rent of €1.6m per year.
The agreement means the newly refurbished One Docklands Central - which was formerly Commerzbank House - is now fully let, with the rest of the building leased to HubSpot and Bank of New York Mellon.
Refurbishment works on four floors and common areas at the building was completed in May.
Hibernia COO Frank O’Neill said the rents achieved in the latest letting are “significantly above the levels we underwrote at acquisition in July 2014”.
Meanwhile, in a trading statement ahead of its AGM today, Hibernia REIT said it has now a contracted rent roll of over €43m following the ComReg deal.
At the end of June the firm had net debt of €115m and cash and undrawn facilities of €307m.
On Brexit, Hibernia CEO Kevin Nowlan said: "It is too early to see any discernible impact, positive or negative, on on the occupational and investment markets in Dublin."