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Hibernia Real Estate Group achieves full occupancy at 2 Cumberland Place – The Irish Times

Hibernia Real Estate Group (formerly Hibernia Reit) has achieved full occupancy at 2 Cumberland Place following the agreement of two final leases at the building.

In the first instance, Experian plc (represented by John Shannon of C&W), an American— Irish multinational credit reporting company, has signed a 10-year lease for the entire second floor extending to approximately 816 sq m (8,785 sq ft).

The first floor meanwhile has now been let to Castlelake Advisors (Ireland) Limited, who are an aircraft leasing and financing company. They have taken approximately 808 sq m (8,697 sq ft) on a 15-year term.

Castlelake and Experian join a strong line-up of existing occupiers in the building including, Electroroute, BGC, 3M and Invesco.

Having acquired the former Cumberland House for €49 million in 2015, the then Hibernia Reit engaged MCA Architects to design a new building to complement the existing block, increasing the overall office accommodation by 5,388 sq m (58,000 sq ft) to 17,651 sq m (190,000 sq ft). Following the completion of the project, the property — now known as 2 Cumberland Place — boasts some of the highest sustainability credentials in the market and is certified as a nearly zero-energy building (NZEB) with an LEED Platinum score and an A3 Ber rating.

With air quality a key consideration for occupiers owing to the unwelcome arrival in 2020 of the Covid-19 pandemic, the property also features demand-control ventilation as part of its base-design specification.

The system reacts to sensor readings throughout the office floors and provides fresh air as and where it is required. The system offers a potential 30 per cent cost saving versus traditional flow systems while providing a healthier and safer work environment for occupiers.

Commenting on the agreement of the latest, final lettings at 2 Cumberland Place, John Cairns, property asset manager at Hibernia Real Estate Group said: “We are delighted to welcome Castlelake Aviation Holdings Ireland Ltd and Experian to 2 Cumberland Place. The building is now fully occupied which we feel is testament to the continued strong demand for high-quality and sustainable office space in Dublin.”

Sam Daunt of CBRE’s office-leasing division said: “In the current market, occupiers continue to gravitate towards quality offices with high ESG credentials, bright/efficient floor plates and good-quality end of trip facilities, all of which 2 Cumberland Place provide to an exceptional degree.”

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