IPUT Completes Property Transactions Valued at €160m

27 August 2018

IPUT has completed a €160 million property transaction involving the exchange of several high profile office buildings in Dublin City Centre.

As part of the deal, IPUT has acquired Deloitte House, 29 Earlsfort Terrace, Dublin 2. In return the Fund has disposed of assets at 6 Georges Dock, IFSC, Dublin 1 and 40 Molesworth Street, Dublin 2.

Deloitte House is a landmark office building situated on the corner of Earlsfort Terrace and Hatch Street and is occupied by Deloitte on a long-term lease. It combines a strong income profile with redevelopment potential and is situated in Dublin’s central business district where the Fund continues to be particularly active. Following the completion
of a number of highly successful development projects, this acquisition is consistent with IPUT’s added value investment strategy.

40 Molesworth Street was redeveloped by IPUT in 2017 to provide a striking Grade A office building, with a ground floor retail unit on the corner of Molesworth Street and Dawson Street. The building is predominantly occupied by Jet.com, which is owned by the Walmart Group, and Specsavers.

6 Georges Dock, IFSC was acquired by IPUT in 2013 and is multi-let to tenants including Hedgeserv, Corvil and Airbus.