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Property fund Iput has confirmed its pre-letting of One Wilton Park to LinkedIn.
The 150K SF building — which is being constructed on the site of Fitzwilton House in Dublin 2 — has been described on Iput’s website as pre-let for several months.
Work began on-site in June and completion is expected in Q4 2020.
Iput chief executive Niall Gaffney said One Wilton Park will deliver a projected income yield on cost of more than 9%. He said the deal brings the total value of new leases signed by the company in the last year to over €20.5M.
The company plans to look for planning permission later this year for the redevelopment of the rest of its Wilton Park estate, including Wilton Park House and Gardner House. Wilton Park House is currently home to IDA Ireland, which will be moving to Three Park Place next year.
LinkedIn already occupies the 75K SF Gardner House building, as well its own 190K SF Wilton Place EMEA headquarters right next door. LinkedIn said the lease at One Wilton Park will enable it to continue operations on a compact site when it moves out of Gardner House to enable the redevelopment.
Iput said it will have 600K SF of office space in the area once all of this development is complete.
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