• Acquisition of 43,000 sq ft at 44-45 and 90-91 St. Stephen’s Green
• IPUT to expand Studio, its flexible, amenitised workspace offering, to 200,000 sq ft in prime city centre locations

IPUT Real Estate (‘IPUT’), Dublin’s leading property investment company, announces that it has acquired two buildings on St Stephen’s Green, comprising a total of 43,000 sq ft. The acquisitions increase IPUT’s St. Stephen’s Green portfolio to 100,000 sq ft across five buildings, and to 2.15 million sq ft of offices in Dublin’s central business district (CBD).

44-45 St. Stephen’s Green

44-45 St. Stephen’s Green is a five-storey over lower ground floor modern office building with mock Georgian façade comprising 16,400 sq ft Formerly the offices of Ivor Fitzpatrick Solicitors, it occupies a prime corner location on St. Stephen’s Green and Hume Street adjacent to existing IPUT buildings. IPUT has acquired 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

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 sq ft. 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, 90-91 St. Stephen’s Green will be used to expand the Studio flexible portfolio.

Niall Gaffney, CEO, IPUT Real Estate, said:

Our strategy is to focus on the best office locations in Dublin City and we are delighted to add 43,000 sq. ft. on St. Stephen’s Green to our portfolio.

We see sustained strong demand for highly amenitised workspaces. Amenities combined with a flexible leasing model, are attractive for occupiers and are driving premium rents. We are more than doubling our Studio offering from 50,000 sq. ft. to 108,000 sq. ft. this year and expanding our dedicated amenities to over 16,000 sq. ft. 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.