IPUT lets Wilton Park building to LinkedIn on 25-year lease

Letting is ‘milestone’ for firm’s plans for development in the area

One Wilton Park.

One Wilton Park.

 

Property company IPUT said it has agreed to rent One Wilton Park to tech company LinkedIn, on a 25 year lease.

The 150,000 sq ft building, which is located on the site of Fitzwilton House, is set to be completed at the end of 2020. IPUT has owned the site since 1982.

The company said the letting brought the value of new leases signed by IPUT in the past 12 months to €20.5 million.

“The pre-letting of One Wilton Park to LinkedIn is hugely significant for us and represents one of the largest pre-lets in the Dublin office market,” said IPUT chief executive Niall Gaffney. “One Wilton Park will deliver a projected income yield on cost of in excess of 9 per cent and brings the total value of new leases signed over the last 12 months to over €20.5 million.”

He said the letting was a “milestone” in the company’s plans for the area. IPUT is planning to re-develop the remainder of its estate at Wilton Park, including Wilton Park House and Gardner House. A planning application will be submitted later this year.