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Kennedy Wilson signs largest Dublin office lease this cycle

Written by Robert McHugh, on 8th Dec 2017. Posted in Property

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It was announced last week that Global real estate investment company, Kennedy Wilson in a joint venture with Fairfax Financial Holdings Limited and the National Asset Management Agency (“NAMA”) announces that Indeed, the world’s largest jobs site, is to become the second major occupier to commit to the highly-sought after Capital Dock campus development.

This follows a forward funding sale agreement on the 130,000 sq ft 200 Capital Dock building to J.P. Morgan in May 2017. 
 
Indeed has signed an Agreement for Lease to occupy the entirety of Buildings 100 and 300 Capital Dock, extending to over 216,000 sq ft of prime office accommodation. On completion, Indeed will enter 20-year leases with lease breaks at year 13, occupying the buildings on a phased basis.
 
The campus-style development is designed by award-winning Irish architecture firm O’Mahony Pike and will include 346,000 sq ft of office space across 100, 200 and 300 Capital Dock, capable of accommodating over 3,500 staff, and 190 high-quality multifamily units with waterfront views across three aspects, including a 23-storey tower marking the gateway to the city. 
 
Extending over 4.8 acres, Capital Dock is designed to meet the needs of the many rapidly expanding international businesses based in Dublin. Positioned on Sir John Rogerson’s Quay, in the heart of Dublin’s Docklands, Capital Dock is one of the largest single phase ground up developments to be delivered in Dublin with over 690,000 sq ft of new mixed-use space.
 
President and CEO of Kennedy Wilson Europe, Mary Ricks said, "Growing our NOI by delivering our development pipeline alongside asset management wins continues to be our focus – Indeed’s commitment to Capital Dock sits at the heart of this strategy with this milestone signing of the largest office lease completed this cycle in Dublin."

She added, "We are excited to grow our multifamily business in Europe, providing the highest quality accommodation and amenities to cities with strong population growth. We aim to grow our portfolio to 5,000 units in the next few years, more than doubling from a base of approximately 2,200 units on completion of Capital Dock and Clancy Quay Phase III."
 
Source: www.businessworld.ie

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