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Depfa Bank and Apex Fund Services to let new Irish Life block

Irish Life has found tenants for a newly developed office block at the Irish Life Centre on Lower Abbey Street, Dublin 1.

Depfa Bank, formerly based in the nearby IFSC, has completed contacts to lease 1,856 sq.m (20,000 sq.ft) on the third and fourth floors of Block 5 at a rent of €484 per sq.m (€45/sq.ft).

The second tenant, Apex Fund Services, is understood to have made a commitment to lease 1,383 sq.m (15,000 sq.ft) at a headline rent similar to the one agreed with Depfa Bank.

Block 5 has an overall floor area of 3,716 sq.m (40,000 sq.ft) and is finished to a high specification, including a reception area of 1,600 sq.ft. The building benefits from the creation of a new civic plaza to the front.

Depfa Bank is a wholly-owned subsidiary of the German state agency, FMS Wertmanagement.

Apex Fund Services was established in Bermuda in 2003 and has around $350 billion in assets under management.

Deirdre Hayes, head of property asset management at Irish Life Investment Managers, called the wider Irish Life centre campus an integral part of the Dublin landscape. So it was essential that the latest phase provided a quality, sustainable space that met market requirements. “We are delighted with the outcome and welcome both Apex and Depfa Bank as our new neighbours within the development,” she said.

“Great to be involved in another successful Irish Life office project.”  – Bannon Office Department