04
January
2010
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00:00
Europe/Dublin

LARGEST COMMERCIAL LETTING IN THE IRISH MARKET FOR 2009

Announced By Dublin Airport Authority (DAA)

Dublin, 5th January 2010 – Dublin Airport Authority (DAA) today announced that they have leased Hangar 6 at Dublin Airport to Aer Lingus for a term of 20 years.

The former SRT Technics facility which comprises 23,000 square metres is one of the largest commercial buildings in the country.

Hangar 6 is the jewel in the crown of hangars at Dublin Airport. It was the largest clear span building in Ireland (clear span of 84m) when it was constructed in 1991. The approximately 2 hectares of ground floor space under the roof can house 2 Boeing 747 Jumbo Jets plus 5 Boeing 737s, in addition to the associated office space for ~350 people.

Under the deal, Aer Lingus will rent Hangar 6 from the DAA and will use the facility to amalgamate Dublin based maintenance and operational functions into one location, which will allow for a more streamlined and cost effective operation. Commenting on the deal Jack MacGowan of DAA congratulated Aer Lingus and said "this deal is a strategic step forward for both DAA and Aer Lingus and another concrete example of how the DAA is working with its airline customers to deliver the appropriate long term facilities that they require. It creates value and will help sustain employment in airline maintenance after the unfortunate loss of SRT as an occupier earlier in the year".

Ronan Webster of CBRE commented that the market rent achieved on the leased area of 23,000 square metres represents the most significant lease transaction in the Irish Market in 2009.

Margaret Fleming of Jones Lang La Salle represented Aer Lingus.


ends

For Further Information please contact:

Ronan Webster, Executive Director
CBRE
t: +353 1 6185500
m: +353 87 2211900
e: ronan.webster@cbre.com


About CB Richard Ellis
CB Richard Ellis 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 firm (in terms of 2008 revenue). The Company has approximately 30,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. CB Richard Ellis has been named a BusinessWeek 50 “best in class” company three years in a row and a Fortune 100 fastest growing company two years in a row. Please visit our website at www.cbre.com.

In Ireland, with offices in Dublin and Belfast, CB Richard Ellis is the country’s largest commercial real estate services company, now employing over 110 employees and offering a full range of property services including property sales and acquisitions, leasing and management, investment, corporate services, project management, consultancy, valuations and research. CB Richard Ellis Ireland has been listed among the top 50 Best Workplaces in Ireland, 2009, for the fifth year running. Please visit our website at www.cbre.ie