26th Feb 2016 08:47
LONDON (Alliance News) - Green REIT PLC said Friday that Vodafone Ireland Ltd has agreed to remove its lease break options in 2018 for its headquarters building at Central Park, Dublin, meaning Vodafone is now committed to Central Park until its lease expires in 2026.
The Irish property investment company said it has completed the renegotiation of leases with Vodafone Ireland, which is based at the Central Park site, and Vodafone agreed to continue to pay a rent of EUR7.3 million per annum. In return, Vodafone will receive a rent-free period equivalent to 12 months' rent, Green REIT said.
"As the largest occupier within Central Park, this commitment is a great vote of confidence for the location, underpinning its position as Dublin's best office park. There are now over 4,000 people working in blue chip companies within Central Park, which will increase further with the completion and letting of Block H, a new 150,000 square foot office block, which will be delivered at the end of 2016," said Ronan Webster, the asset management director of Green Property REIT Ventures Ltd, Green REIT's investment manager.
Shares in Green REIT were untraded on Friday, having last traded at EUR1.35.
By Hannah Boland; [email protected]; @Hannaheboland
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