IPUT Real Estate acquires two prime offices to expand Studio brand

IPUT Real Estate, Dublin’s leading property investment company, announced at EXPO that it has acquired two buildings on St Stephen’s Green, comprising a total of 43,000 sq ft. 

St Stephen’s Green

The acquisitions increase IPUT’s St. Stephen’s Green portfolio to 100,000 sq ft across five buildings, and to 2.15 million sq ft of offices in Dublin’s central business district (CBD).
44-45 St. Stephen’s Green is a five-storey modern office building with a mock Georgian façade comprising 16,400 sq ft. Formerly the offices of Ivor Fitzpatrick Solicitors, it occupies a prime corner location on St. Stephen’s Green and Hume Street, adjacent to existing IPUT buildings. 
IPUT has acquired the building with vacant possession and intends to invest in an extensive refurbishment, which will deliver workspaces for its flexible Studio brand.
90-91 St. Stephen’s Green is a four-storey modern, second-generation office building with a mid-terrace Georgian façade comprising 26,600 sq ft. 
The building, currently occupied by Standard Life, is a unique dual aspect building with views into both St. Stephen’s Green and Iveagh Gardens. In time, 90-91 St. Stephen’s Green will be used to expand the Studio flexible portfolio.
Niall Gaffney, CEO, IPUT Real Estate, said: “Our strategy is to focus on the best office locations in Dublin City and we are delighted to add 43,000 sq. ft. on St. Stephen’s Green to our portfolio.
“Amenities combined with a flexible leasing model are attractive for occupiers and are driving premium rents. We are more than doubling our Studio offering from 50,000 sq. ft. to 108,000 sq. ft. this year and expanding our dedicated amenities to over 16,000 sq. ft.”
He added: “We are excited to continue this expansion of Studio in strategic locations at 44-45 St. Stephen’s Green and in 90-91 St. Stephen’s Green in the medium-term.”

Adam Branson