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Treasury Holdings secures increases following rent reviews at Central Park, Leopardstown
Treasury Holdings, on behalf of REO plc, has announced that it has successfully secured increases in rent following two rent reviews at its Central Park development in Leopardstown, Dublin. Treasury Holding’s secured a 12 per cent increase on previous rent received from Vodafone for its corporate HQ, at Central Park. The lease on the building covers 263,000 sq ft and expires in 2026. Elsewhere in Central Park, an increase of approximately 13 per cent was achieved on the accommodation occupied by Tullow Oil plc which extends to approximately 24,000 square feet. Central Park, strategically located beside the M50 between Sandyford and Leopardstown, is the chosen location for office headquarters in Dublin and has attracted a number of high profile corporate occupiers including Merrill Lynch, First Active and Tullow Oil plc. John Bruder, Managing Director of Treasury Holdings Ireland welcomed the news saying, “We are very pleased with the outcome of these rent reviews. They represent a strong result for us given the current market environment but also a positive outcome for the occupiers as they each have secured outstanding high specification spaces in a convenient well connected suburban location.” Central Park is located on 8.3 hectares and the first phase of development has been completed. When fully developed it will offer up to 2 million sq. ft of high specification buildings. The Business Park is 500m from the existing Sandyford LUAS Station with an on-site LUAS stop that will be operational from 2010 as part of the Cherrywood extension. Phase 1 of Central Park, which is complete, includes a range of premier office buildings. |
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