Savills and CBRE have been appointed to prelet a Dublin office ahead of its €20m refurbishment.
IPUT, the largest unlisted property vehicle in Ireland, has announced the investment in 5 Earlsfort Terrace, the former headquarters of law firm Arthur Cox. It will undergo an extensive renovation to provide 66,000 sq ft of offices.
Refurbishment works will include the addition of two new floors, three new high-speed lifts, showers, lockers and changing rooms – in addition to 50 car park spaces and space for 70 bicycles at basement level.
IPUT chief executive Niall Gaffney said: “Our investment in 5 Earlsfort Terrace, together with our partner, Cashel Fund plc reflects our strategy of consistently regenerating our existing portfolio and setting the standard for office buildings in Dublin’s core business district.
“The investment follows on from our investment in 10 and 40 Molesworth Street, both of which have been successfully redeveloped with lettings well underway.”
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