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LinkedIn Leases All Offices at One Wilton Park in Dublin as Part of Global Expansion

Online Career Networking Company Signs 25-Year Lease On the Site of the Former Fitzwilton House
October 9, 2018

LinkedIn preleased all 150,000 square feet of offices at One Wilton Park in Dublin.

LinkedIn, the U.S. online career network and Microsoft Corp. subsidiary, is preleasing all 150,000 square feet of offices at One Wilton Park in Dublin from Irish property company IPUT as part of its global expansion.

The deal involves a 25-year lease on the site of the former Fitzwilton House, which IPUT has owned since 1982. Construction began on the site in June 2018, with Sisk appointed as the main contractor. The building is scheduled to be completed in the fourth quarter of 2020.

LinkedIn also preleased 83,000 square feet of headquarters space in London's Farringdon last month. The international expansion for Sunnyvale, California-based LinkedIn builds on its growth across the United States. The company is adding office space, from the Empire State Building in New York City to land near search engine giant Google in California's Silicon Valley. The company said it plans to keep adding employees and entering new geographic markets.

IPUT said it plans to submit a planning application later this year for the re-development of the remainder of its estate at Wilton Park, which includes Wilton Park House and Gardner House, plus their associated public spaces.

IPUT has already concluded an initial program of improvements to the park itself, which also comes within its ownership. Upon completion, IPUT’s estate in the area will total to 600,000 square feet of offices.

One Wilton Park has been awarded the WiredScore ‘Platinum’ digital connectivity rating - the highest WiredScore rating, placing it among the best-connected buildings in the world.

IPUT Chief Executive Officer Niall Gaffney said: "The pre-letting of One Wilton Park to LinkedIn is hugely significant for us and represents one of the largest pre-lets in the Dublin office market. One Wilton Park will deliver a projected income yield on cost of in excess of 9 percent."

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