Kennedy Wilson Signs Largest Dublin Office Lease This Cycle at Capital Dock Development
Remaining 216,000 sq ft of Grade A office, now 100% leased
Entire 690,000 sq ft development on track to complete by end of 2018
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--
Global real estate investment company Kennedy
Wilson (NYSE: KW) in a joint venture with Fairfax Financial Holdings
Limited and the National Asset Management Agency (“NAMA”) announces that
Indeed, the world’s #1 jobs site, is to become the second major occupier
to commit to the highly-sought after Capital Dock campus development.
This follows a forward funding sale agreement on the 130,000 sq ft 200
Capital Dock building to J.P. Morgan in May 2017.
Indeed has signed an Agreement for Lease to occupy the entirety of
Buildings 100 and 300 Capital Dock, extending to over 216,000 sq ft of
prime office accommodation. On completion, Indeed will enter 20-year
leases with lease breaks at year 13, occupying the buildings on a phased
basis.
“Growing our NOI by delivering our development pipeline alongside asset
management wins continues to be our focus – Indeed’s commitment to
Capital Dock sits at the heart of this strategy with this milestone
signing of the largest office lease completed this cycle in Dublin,”
said Mary Ricks, President and CEO of Kennedy Wilson Europe.
“In addition to our offices at Capital Dock being fully leased more than
12 months prior to completion, we will begin pre-marketing of the 190
luxury residential rental apartments in Q2 2018.
“We are excited to grow our multifamily business in Europe, providing
the highest quality accommodation and amenities to cities with strong
population growth. We aim to grow our portfolio to 5,000 units in the
next few years, more than doubling from a base of approximately 2,200
units on completion of Capital Dock and Clancy Quay Phase III.”
Extending over 4.8 acres, Capital Dock is designed to meet the needs of
the many rapidly expanding international businesses based in Dublin.
Positioned on Sir John Rogerson’s Quay, in the heart of Dublin’s
Docklands, Capital Dock is one of the largest single phase ground up
developments to be delivered in Dublin with over 690,000 sq ft of new
mixed-use space. The campus-style development is designed by
award-winning Irish architecture firm O’Mahony Pike and will include
346,000 sq ft of office space across 100, 200 and 300 Capital Dock,
capable of accommodating over 3,500 staff, and 190 high-quality
multifamily units with waterfront views across three aspects, including
a 23-storey tower marking the gateway to the city. Capital Dock will be
one of the highest quality developments in Dublin, with LEED Gold
certification.
The residents at Capital Dock will enjoy the signature Kennedy Wilson
Residential range of amenities and professional services as part of
their daily living along with 1.5 acres of new public space, retail and
restaurant offerings. Kennedy Wilson has delivered a premium amenity
offering in Dublin since 2012 and Capital Dock will provide a further
elevated level of service.
About Kennedy Wilson
Kennedy Wilson (NYSE:KW) is a global real estate investment company. We
own, operate, and invest in real estate both on our own and through our
investment management platform. We focus on multifamily and commercial
properties located in the Western U.S., UK, Ireland, Spain, Italy and
Japan. To complement our investment business, the Company also provides
real estate services primarily to financial services clients. For
further information on Kennedy Wilson, please visit: www.kennedywilson.com.
About NAMA
NAMA [the National Asset Management Agency] is committed to facilitating
the development of Grade A office space, commercial, residential and
cultural accommodation in the Dublin Docklands SDZ [Strategic
Development Zone] and works closely with joint venture partners, debtors
and receivers with that objective in mind.
NAMA originally held an interest in 75% of the 22 hectares of
undeveloped land in the Docklands SDZ. It is estimated that 4m sq ft of
commercial space and in excess of 2,000 apartments will ultimately be
delivered on the 15 sites in which NAMA originally held an interest.
About Indeed
More people find jobs on Indeed than anywhere else. Indeed is the #1 job
site in the world and allows job seekers to search millions of jobs on
the web or mobile in over 60 countries and 28 languages. More than 200
million people each month search for jobs, post resumes, and research
companies on Indeed, and Indeed is the #1 source of external hires for
thousands of companies (sources: SilkRoad & iCIMS). For more
information, visit indeed.com.
Special Note Regarding Forward-Looking Statements
Statements in this press release that are not historical facts are
“forward-looking statements” within the meaning of U.S. federal
securities laws. These forward-looking statements are estimates that
reflect our management’s current expectations, are based on assumptions
that may prove to be inaccurate and involve known and unknown risks.
Accordingly, our actual results or performance may differ materially and
adversely from the results or performance expressed or implied by these
forward-looking statements, including for reasons that are beyond our
control. Accordingly, you should not unduly rely on these statements,
which speak only as of the date of this press release. We assume no duty
to update the forward-looking statements, except as may be required by
law.
KW-IR

View source version on businesswire.com: http://www.businesswire.com/news/home/20171204005188/en/
Investors:
Kennedy Wilson
Daven Bhavsar, CFA
Director
of Investor Relations
+1 (310) 887-3431
[email protected]
or
Press:
Kennedy
Wilson
Q4 Public Relations
Martin Mackin
+353 1 475
1444
[email protected]
or
NAMA
Gordon
MRM
David Clerkin
+353 1 665 0450
[email protected]
Source: Kennedy Wilson