Barclays to open EU hub in Green REIT’s Dublin office
Barclays Bank Ireland has agreed a deal to set up a post-Brexit European hub at Green REIT’s One Molesworth Street in Dublin.
The bank will occupy 37,000 sq ft at the new development, with an option, up to practical completion, to take a further 8,000 sq ft half floor.
Barclays will pay €62 (£55.50) per sq ft on a 20-year lease with a break option at the end of year 12. It will pay a further €4,000 (£3,583) per car space pa, and is entitled to a “market level rent-free period” at the outset of the lease.
Barclays Bank Ireland has agreed a deal to set up a post-Brexit European hub at Green REIT’s One Molesworth Street in Dublin.
The bank will occupy 37,000 sq ft at the new development, with an option, up to practical completion, to take a further 8,000 sq ft half floor.
Barclays will pay €62 (£55.50) per sq ft on a 20-year lease with a break option at the end of year 12. It will pay a further €4,000 (£3,583) per car space pa, and is entitled to a “market level rent-free period” at the outset of the lease.
The deal represents the first letting at One Molesworth Street and leaves a total of 31,000 sq ft available, subject to Barclays’ option. The remainder of the building, including 18,000 sq ft of retail space at ground and lower ground level, will be ready for fit out in Q4 2017.
Paul Culhane, development director of Green Property REIT Ventures, said discussions were “ongoing with prospective tenants” for the remaining office and retail space.
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