OfficeMarket: AIB is to avail of the weak office market in north Dublin by renting a newly completed office block at Airside Business Park in Swords for its direct banking business.
Although the bank insisted that details of the transaction should not be disclosed, it is understood that it will be paying €182 per sq m (€17 per sq ft) under a 25-year lease with a break option in year 10.
Up to 260 people will be based in the three-storey block which has a floor area of 5,376sq m (57,867sq ft). Deirdre Costello of Jones Lang LaSalle, who handled the letting, said the deal underlined the appeal of Airside Business Park.
The developers are now constructing another office building of 8,500sq m (91,493sq ft) which should appeal to other companies.
Airside will be enhanced further when the Metro service opens between the city and Swords.
Simon Trappes-Lomax of DTZ Sherry FitzGerald, who acted for the bank, described the deal as the most significant in north Co Dublin in 2007 and said it highlighted activity levels within the financial services sector.
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