Amancio Ortega's Inditex takes out a 10-year lease on Harcourt Street...
Spanish fashion giant Inditex has landed in Dublin.
The company, which owns big retail brands Zara, Bershka and Massiomo Dutti, has opened an office at the Harcourt Centre in Dublin 2, the Irish Times reports.
A 10-year lease has been taken on 335sq m of the newly-developed penthouse floor of Block 5 at a rent of approximately €629 per sq m.
Jim O'Reilly of letting agents Knight Frank said that the arrival of such a "high calibre" tenant is a testament to the premium quality office space the Clancourt group delivers.
Knight Frank is currently marketing the remodelled fourth floor for a price of €645 per sq m. The open-plan space boasts full third-generation specification including energy efficient LED light fittings, suspended metal ceiling tiles and four pipe fan coil air facilities. Aegis Media Ireland and SuMi Trust asset services are already resident in Block 5.
Inditex continues to thrive at a time when many of its high street rivals are struggling.
The company recently reported net earnings of €1.26bn in the six months to July 31st. That's 8% higher than the same period last year. Sales rose 11%, from €9.4bn to €10.5bn.
Last month, Inditex founder Amancio Orttega was named the richest man in the world by Forbes. The magazine values his fortune at $78.6 billion, up $2.1 billion in the last year and placing him above Bill Gates (with a mere $78.1bn to his name in second) on the real-time list.