Tech giants continue their expansion to shiny offices in Dublin with the latest news that inbound marketing player HubSpot is to lease all of the office accommodation in 1 Sir John Rogerson’s Quay (1SJRQ) on Dublin’s South Docks for €6.8m a year from Hibernia REIT.
Overall, the expansion will allow HubSpot to accommodate up to 1,400 seats across its two locations.
Dublin has been home to HubSpot’s European headquarters since 2013. In April 2016, the company opened a new office at One Dockland Central before taking on additional space at Two Dockland Central in July 2018 to facilitate its growth in EMEA.
HubSpot, which is already a tenant of Hibernia in One and Two Dockland Central just over the river near the North Docks, where it will continue to occupy 73,000 sq ft, is taking a 20-year lease of 1SJRQ, with a 12-year term certain, commencing in June 2019.
The lease covers 112,000 sq ft and 31 parking spaces, on which HubSpot will pay – after a four-month rent-free period – an initial rent of €6.8m per annum, equating to €59.75 per sq ft for the office space. The date of HubSpot’s break options in One and Two Dockland Central has been extended by three-and-a-half years to align with 1SJRQ.