Floor Tenant CPS Annual Rent Lease Expiry Lease Break
Lower Ground, Ground & 1st Floor Decawave/Qorvo 15 €578,870 31/07/2029 31/07/2026
2nd East Wing (Entire) & West Wing (Suite 205) Health Service Executive 0 €67,000 19/09/2022 N/A
2nd West Wing (Remaining Suites) Vacant 11 €0 - -
3rd West Wing (Entire) Sebela Ireland Ltd 5 €139,450 06/11/2031 06/11/2026
TOTAL 31 €785,320
TENANT PROFILES

Decawave, an Irish hardware chipmaker was acquired in January 2020 for $400m (€363m) by Qorvo. This was understood to be the biggest ever sale of an Irish Technology start-up. Qorvo is an American semi-conductor company that designs, manufactures, and supplies radio-frequency systems for applications that drive wireless and broadband communications, as well as foundry services.

Decawave launched in 2007, whilst Qorvo was founded in 2015 in Greensboro, North Carolina, USA, and are both traded as part of NASDAQ and are included as an S&P 500 component. They have approx. 8,000 employees globally and in 2020 had a revenue of approx. $3 Billion with a net income of $330 Million. Qorvo currently has a net worth of $16.67 Billion.

The Health Service Executive (HSE) is the publicly funded healthcare system in the Republic of Ireland, responsible for the provision of health and personal social services. It came into operation on 1st January 2005. Its current annual budget is €16.05 billion, with over 65,000 employees on their payroll.

Sebela Pharmaceuticals are a pharmaceutical market leader who develop commercial drugs for patients affected by disease and focus on therapeutic areas of gastroenterology, colorectal cancer prevention, dermatology, and women’s health.

Sebela Pharmaceuticals, a US-headquartered drug developer with a significant presence in Dublin, where its chief executive is based, has acquired Massachusetts firm Braintree Laboratories. They currently have a revenue of over $500 Million.

Floor Tenant IPMS3 Gross Internal Area Net Internal Area
    sq m sq ft sq m sq ft sq m sq ft
Basement Decawave Ltd /Qorvo 395.0 4,252 630.1 6,782 337.6 3,634
Ground Decawave Ltd /Qorvo 429.4 4,622 614.7 6,617 389.0 4,187
First Decawave Ltd /Qorvo 457.6 4,926 614.8 6,618 421.6 4,539
Second Vacant 196.6 2,116 620.8 6,681 169.3 1,822
HSE 267.0 2,874 251.9 2,712
Third Sebela 284.3 3,060 419.3 4,513 254.7 2,742
Roof       27.8 299    
TOTALS   2,029.9 21,850 2,927.5 31,510 1,824.1 19,636