The Post - February 4, 2007
The sale of Icon’s headquarters in the South County Business Park in Leopardstown, Dublin 18, will probably be complete by the end of the week. However, rumours that a technology entrepreneur had bought the buildings are untrue.
Icon, the clinical research organisation, is expected to secure up to €80 million for the four new office blocks and its existing headquarters. That selling price would reflect a yield of 4.75 per cent.
The company is to build four four-storey office blocks linked by a glass atrium to the existing headquarters building on the site. That will extend the total size of the facility to 15,868 square metres on a site which measures just over 4.5 acres. The first of the blocks is due for completion next month.
Under the terms of the sale and leaseback, the rent payable by Icon will equate to between €247 and €258 per square metres and in addition it will pay €1,000 annually for each of the 338 car parking spaces. The leases are for 20 years with upward-only rent reviews and a break option in year 15.
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Tuesday, February 06, 2007
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