IRISH property fund Iput and partners Cashel Funds Plc have secured tenants for nearly 40,000 sq ft of office space at Nos 5 and 6 Earlsfort Terrace.

Nasdaq-listed US biotechnology company Biomarin Pharmaceuticals will occupy 26,000 sq ft across floors four, five and six of the building.

Harmonic Fund Services and W&W Advisory are leasing the third and seventh floors respectively.

Taken together, the long-term lease agreements will generate annual rental income of €2.42m for the fund.

Located directly opposite the National Concert Hall and beside the five-star Conrad Hotel, Nos 5 and 6 Earlsfort Terrace were probably best known for being the long-standing home of law firm Arthur Cox.

The company relocated in 2017 to a new headquarters purpose built for it by the Clancourt Group on the corner of Earlsfort Terrace and Hatch Street.

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Apart from bringing the property up to both LEED Platinum and WiredScore Platinum ratings, the fund increased its total office space to 80,000 sq ft by adding two floors.

A new urban park at the scheme, designed by award-winning landscape architect Robert Townshend, is expected to open to the public in March.

Irish Independent