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A U.S. tech firm has become the latest to sign up to a major office scheme in Dublin.
Global payments provider Fiserv has agreed to a 15-year lease at Kennedy Wilson’s 10 Hanover Quay development.
The firm will take 68K SF at the newly completed office scheme, which was developed in partnership with Ireland’s National Asset Management Agency.
According to Kennedy Wilson, the new lease at 10 Hanover Quay is expected to generate a yield on cost in excess of 6%.
Fiserv operates in more than 100 countries and serves nearly 10,000 financial institutions and more than 6 million merchant locations globally. In Ireland, it operates a joint venture with AIB, AIB Merchant Services.
“Our new location will be a key part of our presence in EMEA, serving as a destination for talent that brings people together in a dynamic hub of collaboration and innovation as we move payments and financial services forward," Fiserv Head of EMEA John Gibbons said.
The 10 Hanover Quay property dates to the 1780s, when it originally served as a warehouse and stables. Kennedy Wilson and NAMA acquired the site in 2017.
“We are very excited to lease 10 Hanover Quay, completing our cutting-edge Capital Dock campus, with its fantastic public amenities, innovative placemaking and recently accredited ISO certifications," Kennedy Wilson's Head Of Ireland Ali Rohan said. “The financial and tech sectors are well-represented around the Docklands and have furthered demand for intelligent buildings that enable collaboration, connectivity and occupier wellbeing.”
Fronting onto Three Locks Square at the heart of the Capital Dock campus, 10 Hanover Quay is the last piece of a new 5.3-acre mixed-use urban quarter that includes 460K SF of offices, 27K SF of restaurants, bar and food offerings, 190 residential units and 2.5 acres of public space.
“We are delighted that this high-quality building has been fully let as it shows the continued strong confidence in the Dublin Docklands office market," NAMA Chief Commercial Officer John Collison said.
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