Hibernia REIT PLC Hibernia lets 1SJRQ, South Docks, to HubSpot (1224H)

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RNS Number : 1224H

Hibernia REIT PLC

13 November 2018

Hibernia lets 1SJRQ, South Docks, to HubSpot

Hibernia REIT plc ("Hibernia") announces that it has agreed to lease all the office accommodation in 1 Sir John Rogerson's Quay ("1SJRQ") to HubSpot Ireland Limited ("HubSpot"), a leading provider of inbound marketing and sales software.

HubSpot, which is already a tenant of Hibernia in One & Two Dockland Central ("1 & 2DC") where it will continue to occupy 73,000 sq. ft., is taking a 20 year lease of 1SJRQ, with 12 years term certain, commencing in June 2019. The lease covers 112,000 sq. ft. and 31 parking spaces on which HubSpot will pay, after a four month rent free, an initial rent of EUR6.8m per annum, equating to EUR59.75 per sq. ft. for the office space. The date of HubSpot's break options in 1 & 2DC has been extended by three and a half years to align with 1SJRQ.

1SJRQ is a high profile riverside development and is reaching the final stages of construction: when finished in early 2019 it will comprise 112,000 sq. ft. of offices and 7,000 sq. ft. of food & beverage space. It is one of six adjacent properties owned by Hibernia which make up the Windmill Quarter in Dublin's South Docks and which will total c. 400,000 sq. ft. of office space along with further residential, food & beverage and gym areas when finished in early 2019.

Justin Dowling, Hibernia's Head of Asset Management, said:

"We are delighted to be letting 1SJRQ, our landmark building in Dublin's South Docks, to HubSpot, building on the strong relationship we have developed over the past three years. With its distinctive restored tramway façade and Dockers Pub, 1SJRQ combines historic Dublin with class-leading new office space. We look forward to working with HubSpot to complete their new Dublin headquarters and to welcoming them to the Windmill Quarter."

Christian Kinnear, Managing Director of EMEA at HubSpot, said:

"HubSpot has grown significantly in EMEA over the last few years, and our headquarters in Dublin has played a significant role in that progress. This expansion will allow us to increase headcount, develop more world-class products, and continue to deliver exceptional service to our customers. We're excited to move into this new space and we look forward to seeing what we can achieve from Dublin in the coming years."

ENDS

Contacts:

Hibernia REIT plc [phone]

Justin Dowling, Head of Asset Management

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 an Irish Real Estate Investment Trust ("REIT"), listed on Euronext Dublin and the London Stock Exchange. Hibernia owns and develops property and specialises in Dublin city centre offices.

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November 13, 2018 02:01 ET (07:01 GMT)