Irish real estate fund IPUT announced on Tuesday it has secured planning permission to redevelop and restore the Tropical Fruit Warehouse in Dublin’s Docklands.
The building, comprising 70,000 ft2 (6,500 m2) of space, will provide a new river front office and a new six-floor office block at the rear overlooking an existing public square.
The property is regarded as one of the last original warehouses in the Dublin docks and is situated at 30 - 32 Sir John Rogerson’s Quay. It was originally a storage facility for tropical fruit, leading to the new branding for the complex.
‘This redevelopment will complement our existing office holdings in the immediate vicinity which extend to over 600,000 ft2 (55,000 m2) and is part of our long-term strategy to provide buildings that are recognised for the highest standards in design, functionality and sustainability credentials,’ commented Niall Gaffney, IPUT chief executive.
Construction is expected to begin in Q3 2018, with delivery slated in Q4 2020.
Andrew Cunningham of Savills and Aisling Tannam of Cushman & Wakefield are letting agents.
‘We are excited about the unique letting opportunity that the Tropical Fruit Warehouse represents which will further support the anticipated 20% growth in our dividends over the next 3-5 years,’ Gaffney concluded.