Hibernia REIT Lets Remaining Space At 2WML To Zalando Ireland

(Alliance News) - Hibernia REIT PLC on Tuesday said it has let the remaining 47,500 square feet ...

Alliance News 25 February, 2020 | 11:53AM
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(Alliance News) - Hibernia REIT PLC on Tuesday said it has let the remaining 47,500 square feet available in 2WML, a property in Dublin, to Zalando Ireland Ltd.

The Dublin-headquartered real estate investment trust said Zalando will occupy the remaining floors in 2WML on a 15-year lease. After a six month rent free, Hibernia said Zalando will pay initial rent of EUR2.9 million per annum.

Hibernia said 2WML is now fully let, with contracted rent of EUR3.9 million per annum and a weighted average term certain of six years for the office space.

"Following this letting the Windmill Quarter's 400,000 square feet of office accommodation is fully occupied, marking the completion of a six-year programme to transform the Windmill Lane area in Dublin's South Docks and the creation of our first cluster of office buildings," said Hibernia Director of Property Justin Dowling.

Hibernia shares were trading 1.0% lower in London on Tuesday at EUR1.35 each.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Hibernia REIT PLC 1.09 EUR 0.37 -
Hibernia REIT PLC 1.11 EUR 1.84 -

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