Green REIT PLC Green REIT lets 5 Harcourt Road to WeWork (3313T)
July 03 2018 - 1:00AM
UK Regulatory
TIDMGRN
RNS Number : 3313T
Green REIT PLC
03 July 2018
Green REIT lets entirety of 5 Harcourt Road to WeWork
Completes sale of Westend Retail Park
Dublin, 3 July, 2018 | Green REIT Plc, ("Green REIT", or "the
Company") announces that it has signed an agreement with a
subsidiary of WeWork Companies Inc ("WeWork") to lease the entirety
of 5 Harcourt Road, Dublin 2. WeWork is the world's largest
provider of collaborative workspaces, and guarantees the lease
obligations.
This newly developed office building in Dublin city centre is
due for completion in July 2018 and comprises 4,650 square metres
(50,000 square feet) of lettable space over 7 floors. WeWork has
signed a 20 year lease with no break options, at an annual rent of
EUR3 million.
Paul Culhane, Development Director of Green Property REIT
Ventures, commented: "We are delighted to lease the entire of 5
Harcourt Road to WeWork, continuing the successful de-risking of
our development programme, adding a further EUR3 million to our
annual rent and extending our income security with 20 years
certainty. We look forward to welcoming WeWork to the building, as
it broadens its existing presence in this vibrant part of Dublin
city centre."
The Company also confirms that it has completed the sale of
Westend Retail Park for EUR147.7 million, the contract for which
was exchanged on 25 May 2018.
ENDS
Contacts
Green Property REIT Ventures (Investment Manager to the
Company)
Niall O'Buachalla, CFO
+353 (0) 1 2418400
FTI Consulting (IR and PR to the Company)
Dublin: Jonathan Neilan/ Patrick Berkery
+353 (0) 1 765 0884
London: Giles Barrie / Claire Turvey
+44 (0)20 3727 1000
greenreit@fticonsulting.com
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END
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