IPUT Real Estate, the biggest office landlord in Dublin, said today it had bought two buildings on St Stephen's Green, comprising a total of 43,000 square feet.
IPUT said the latest acquisitions increase its St Stephen's Green portfolio to 100,000 square feet across five buildings and to 2.15 million square feet of offices in Dublin's central business district (CBD).
Niall Gaffney, CEO, IPUT Real Estate, said the company continues to see sustained strong demand for highly amenitised workspaces.
"Amenities combined with a flexible leasing model, are attractive for occupiers and are driving premium rents," he said.
"We are more than doubling our Studio offering from 50,000 square feet to 108,000 square feet this year and expanding our dedicated amenities to over 16,000 square feet. We are excited to continue this expansion of Studio in strategic locations at 44-45 St. Stephen’s Green and in 90-91 St. Stephen’s Green in the medium-term," he added.
44-45 St Stephen’s Green is a five storey over lower ground floor modern office building with mock Georgian façade comprising 16,400 square feet.
Formerly the offices of Ivor Fitzpatrick Solicitors, it occupies a corner location on St Stephen's Green and Hume Street adjacent to existing IPUT buildings. IPUT said it had bought the building with vacant possession and intends to invest in an extensive refurbishment which will deliver five highly amenitised workspaces for its flexible Studio brand.
90-91 St Stephen’s Green is a four storey over lower ground floor modern second-generation office building with a mid-terrace Georgian façade comprising 26,600 square feet.
The building, currently occupied by Standard Life, is a unique dual aspect building with views into both St Stephen’s Green and Iveagh Gardens. In time, IPUT said the building will be used to expand its Studio flexible portfolio.
Studio is IPUT's amenity led workspaces brand and the company had 100% occupancy across its nine Studio workspaces totalling 52,000 square feet at the end of June.
