IPUT, the biggest office landlord in Dublin, said it achieved a 97% rent collection rate for 2020 despite the uncertain market environment.
IPUT today reported a year-end contracted rental income of €122m and said it had a portfolio value of €2.9 billion with a 97% occupancy rate at the end of 2020.
It said its development pipeline is 84% pre-let which will increase contracted rent to €160m over the next three years.
IPUT also raised €200m during the year through a US private placement offering.
The company said its flagship office project at Wilton Park progressed well during the year.
One Wilton is due to be finished by summer 2021, with the remaining three buildings on target to be fully complete in 2023. All four buildings, comprising 580,000 square feet, are fully pre-let to LinkedIn.
The company said its "letting highlight" of the year was three floors at 3 Dublin Landings to technology firm Microsoft.
Niall Gaffney, chief executive of IPUT Real Estate, said the company delivered a resilient performance for 2020 despite an uncertain market environment.
"This resilience, and the quality of our portfolio, is clear in our rental recovery of over 97% resulting in a cash dividend of €102.5m for our shareholders," Niall Gaffney said.
"As the largest owner of offices in Dublin we recognise that we have a role to play in re-invigorating our city and its neighbourhoods in a post-pandemic world - a recognition that has inspired an increased focus on placemaking," Mr Gaffney said.
"Our focus for 2021 will be to continue to re-position and futureproof our offices - investing in our estate to build-in long term resilience by ensuring that workplaces become more sustainable and attractive places for all our stakeholders," he added.
