Stockbroker takes space on Green

Offices: The ground floor of 75 St Stephen's Green - the newly redeveloped office building on the south side of Dublin's premier square - has been let on a long lease to Dolmen Stockbrokers.

"One of the significant aspects of this deal is that it is the first letting in many years in the city centre which does not include any incentives, like rent-free periods," says Deirdre Costello, office agency director with Jones Lang LaSalle. "This is a measure of the quality of the building and its superb location."

Dolmen is relocating its offices from around the corner on Earlsfort Terrace.

Two floors of the building have already been leased by the international offshore law firm Maples and Calder which occupies 2,822sq m (30,376sq ft) on the fourth and fifth floors of the seven-storey building.

There is a total of 9,402.3sq m (101,206sq ft) of office accommodation in the building with floors ranging in size from 596-1,586sq m (6,415-17,072sq ft).

Jones Lang LaSalle is quoting €650 per sq m (€60.4 per sq ft) per annum for this remaining office space.

Shelbourne Developments' decision to lease the building on a floor-by-floor basis means that city centre offices in this prime location are available as corporate headquarters to medium-sized companies in an area traditionally reserved for large organisations and State institutions.

Designed by Burke-Kennedy Doyle, the block is on the same side of St Stephen's Green as such landmarks as Iveagh House, the home of the Department of Foreign Affairs, and Newman House.

Also on the Green and nearby are the headquarters of Bank of Scotland (Ireland), the Office of Public Works, Greencore, KBC Asset Management, Anglo-Irish Bank, HSBC Ireland, MBNA Ireland, Bank of America and Arthur Cox.

The building has a fully glazed façade, a double height entrance lobby with marble floors and limestone wall cladding. It is finished to the highest specification to include raised access floors; air conditioning is by way of a chilled ceiling system and there is a resulting floor-to-ceiling height of 2.75 metres.

St Stephen's Green is served by numerous public transport services, including the Luas from Sandyford and a plethora of bus routes, as well as being within walking distance of the Dart and Arrow commuter rail services.

Shelbourne Developments is widely regarded as one of Ireland's most progressive developers.

In the past two years the company has completed over 92,903sq m (1 million sq ft) of construction in Ireland.

Recently completed projects include Moore Street Plaza and Jury's Inn at Parnell Street, the redevelopment of the former Virgin Megastore at 14-18 Aston Quay, and Belgard Square at Tallaght town centre, a 46,452sq m (500,000sq ft) residential and retail development. The residential element consists of 372 apartments, including a 13-storey tower, which provides panoramic views of the surrounding area.