CBRE negotiate largest suburban letting in Ireland so far this year at Central Park

Online Reservations Company Web Reservations whose flagship brand, Hostelworld, the global leader in online hostel reservations expands into new Global HQ at Central Park

Dublin, 7 May 2015 – The Central Park Limited Partnership is delighted to announce the letting of the second floor of Number One, Central Park, to Hostelworld, the global leader in online hostel reservations. The letting of 2,357 sq m (25,400 sq ft) was the largest deal signed in Dublin’s Suburban Office Market so far in 2015 and sees Hostelworld secure a 20 year lease on the office accommodation. The rent was in the region of €255 per square metre.

Equally as significant is the fact that Hostelworld are relocating their operation from Charlemont Place in Dublin 2 to one of the best serviced suburban office parks in Ireland. Key to the success of Central Park is the unrivalled offering that the scheme offers to staff and visitors to the scheme. The Central Park office park has been under the asset management of Green Property REIT Ventures since it was acquired by The Central Park Limited Partnership in Quarter 1 2014. Hostelworld will join the list of high calibre existing tenants which includes Vodafone, Bank of America Merrill Lynch, Ulster Bank, Leaseplan, Tullow Oil plc and Salesforce. It is expected that the company will move into their new office in the summer.

Feargal Mooney, CEO of Hostelworld explains, ‘Our continued year-on-year growth, accelerated by our acquisition of Hostelbookers in 2013, has resulted in us needing to expand into a new, bigger office space. It’s an exciting time at Hostelworld, and we look forward to our next chapter in our new surroundings.”

The agents for Central Park are now offering the last 2 remaining floors within One Central Park, which are available for immediate tenant fit out. The office accommodation extends to an area of approximately 4,198 sq m and can be made available on a floor by floor basis from 1,994 sq m.

Anne Louise Hannon in CBRE acted for Green Property REIT Ventures while Paul Scannell in HWBC represented Hostelworld. Knight Frank are joint office agents for Central Park.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

In Ireland, with offices in Dublin and Belfast, CBRE is the country’s largest commercial real estate services company, now employing over 165 employees and offering a full range of property services including property sales and acquisitions, leasing and management, investment, corporate services, debt advisory, project management, consultancy, business rates and compulsory purchase, valuations and research. Please visit our website at www.cbre.ie or www.cbre.ie/ni.