Irish homeware retailer, Home Store + More, has signed a new long-term lease for the entire top floor of Quadrant House on Ballymount Avenue, Dublin 12.
While the full terms of the 20-year lease agreement, which was handled by Lisney Commercial Real Estate, have not been released, the company is understood to be paying a rent of about €20 per square foot for the 20,000sq ft (1,858sq m) of office space it will occupy.
There is a break option in year 10 of the agreement.
Lanthorn, the asset manager for the property, oversaw a comprehensive upgrade of Quadrant House, improving both its sustainability and tenant facilities prior to Home Store + More’s decision to base its office operations in the building.
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Recent works have included the installation of new high-specification showers and the achievement of an A3 BER energy rating.
Quadrant House is situated in a readily accessible location on Ballymount Avenue, 500m from Junction 10 of the M50 motorway, which offers connectivity to all major arterial routes including the M7, M4, M11 and M1.
The Luas red line stop at Kingswood is located 1.4km from the building. Ballymount is home to a range of major corporate occupiers including SIG, G4S, Virgin Media Television and Exertis.
Commenting on the letting, Deborah Mahon of Lisney said: “This deal highlights the ongoing trend of occupiers moving towards higher-quality office space. Businesses continue to seek efficient, modern accommodation that is energy efficient and easily accessible in the suburbs.”
Paul Finucane of Colliers represented Homestore + More in the negotiations.
