Allied Irish Banks has let the entirety of Green REIT’s recently completed office building at Central Park in Dublin 18.
The letting comprises 158,244 sq ft of lettable space on a 20-year lease from May 2017, with a tenant break option at the end of year 12.
AIB is paying an annual rent of €4.8m (£4.5m), or €27 per sq ft. It is entitled to a 12-month rent-free period under the terms of the agreement.
This letting will bring the total contracted rent in Central Park to €23.7m pa, with full occupancy across the 850,000 sq ft of space in the office park.
The remaining land at Central Park has scope for further development, where planning consents are in place for 400,000 sq ft of office space, which includes the 97,1000 sq ft Block I.
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