IPUT plc has completed a re-gear of 3,060 sq m (32,943 sq ft) of office space at the Iveagh Building in the Park, Carrickmines, Dublin 18, with Vodafone Ireland Limited, “Vodafone”, a wholly owned subsidiary of Global Telecommunications company Vodafone Group plc.
Vodafone, who occupy the first and second floors in the Iveagh building on two separate leases have agreed to a lease extension of 10 years incorporating a break option at year 5 which will see the company remain in occupation of the building into the medium term.
Commenting, IPUT’s Head of Investment, Michael Clarke, said “This is a positive outcome for both Vodafone and IPUT and we are delighted to retain this world-renowned company within our portfolio. We continue to actively engage with our existing occupiers and have renewed leases on over 350,000 sq ft of space within our portfolio securing over €10 m of income since 2015.”
Vodafone Group plc is one of the world’s leading Telecommunications groups with over 400 million customers around the world. The company generated revenues of £41bn per annum in 2016.
The Iveagh building is located in the Park in Carrickmines, Dublin 18, where IPUT’s ownership also extends to Phase 1 the Park and lands at Q3 the Park. The Park Carrickmines is regarded as Ireland’s premier retail park.