Hibernia REIT PLC Pre-let of two floors at 1 Windmill Lane (0980B)

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RNS Number : 0980B

Hibernia REIT PLC

31 March 2017

Pre-let of two floors at 1 Windmill Lane

Hibernia REIT plc ("Hibernia") announces that it has pre-let two floors in its 1 Windmill Lane development ("1WML") to Informatica Ireland EMEA Unlimited Company ("Informatica"), part of the Informatica Group, a global leader in data integration services headquartered in the United States.

Informatica will occupy the fourth and fifth floors of 1WML, totalling 35,000 sq. ft., and 10 car parking spaces on a 17 year lease, with 12 years term certain. It will pay initial rent of EUR2.1m per annum, including annual contributions to the reception and Townhall areas (EUR2.0m per annum excl. car parking), and will receive six months rent free from practical completion, which is expected in mid-2017.

1WML totals 122,000 sq. ft. of offices, 7,000 sq. ft. of retail and 14 residential units under development on a one acre site and is one of five adjacent properties (including SOBO Works) which Hibernia owns in the SOBO District of Dublin's South Docks, comprising over 370,000 sq. ft. of office space either in-place or under construction.

Mark Pollard, Hibernia's Director of Development, said:

"We are delighted to have agreed terms with Informatica and look forward to welcoming them to 1WML. The building, which has been designed for multi-let use, continues to make good progress towards expected practical completion in mid-2017, well ahead of original guidance. With the structure now fully enclosed and interior works underway, the quality of the space being delivered is becoming clear, with the stand-out features being the reception and Townhall areas, which are unusual in their scale and flexibility and are attracting positive feedback. Discussions are on-going with a number of other potential tenants."

ENDS

Contacts:

Hibernia REIT plc [phone]

Mark Pollard, Director of Development

Tom Edwards-Moss, Chief Financial Officer

Murray Consultants

Doug Keatinge: [phone], [e-mail]

Jill Farrelly: [phone], [e-mail]

About Hibernia REIT plc

Hibernia REIT plc is a Dublin-focused Real Estate Investment Trust ("REIT"), listed on the Irish and London Stock Exchanges, which owns and develops Irish property. All of Hibernia's portfolio of properties is in Dublin and it specialises in city centre offices.

This information is provided by RNS

The company news service from the London Stock Exchange

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March 31, 2017 02:01 ET (06:01 GMT)