Wednesday, October 26, 2016/Categories: News
The online retail giant Amazon has completed legal contracts to rent a high-density office building under construction beside the former Burlington Hotel, now trading as Double Tree by Hilton Hotel Dublin. The letting of the 15,922sq m (172,000sq ft) block is by far the largest in the city for several years.
Amazon is to pay a blended rent that works out at about €538 a sq m (€50 a sq ft), ranging from €484 a sq m (€45 a sq ft) at basement office level and €592 a sq m (€55 a sq ft) on the upper floors. The new tenant will have a break option in year 13 and the use of 95 car-parking spaces at lower basement level.
Amazon is already renting a substantial part of the Burlington Plaza building which it shares with Sky and Adroll. The company is also renting the former Irish Nationwide headquarters at Grand Canal Parade from London & Regional Properties, which bought it at the end of 2013 for a €13 million.
The Burlington Road site had full planning permission for the large scale office scheme when it was bought in June 2014 by developer Johnny Ronan in a joint venture with U+I and Colony Capital. The German investment and management company, Union Investment Real Estate, is to take over ownership of the project when it is completed next summer.
Number of views (1318)