Green REIT has announced that it has completed the renegotiation of its leases with Vodafone Ireland on their Irish headquarters building at Central Park, Dublin 18, which comprises 263,000 square feet and generates a rent of €7.3m per annum for Green REIT. Vodafone is the largest occupier at Central Park and is Green REIT’s single largest tenant. Vodafone has agreed to remove its lease break options in 2018, thereby extending its lease term by 8 years and committing it to Central Park until its leases expire in late 2026. Vodafone will continue to pay a rent of €7.3m per annum and will receive a rent-free period equivalent to 12 months’ rent. Green REIT say that there are now over 4,000 people working in blue chip companies within Central Park, which will increase further with the completion and letting of Block H, a new 150,000 sq ft office block, which will be delivered at the end of 2016.
Green REIT sees Vodafone commit to Central Park until 2026 : GRN