Office MarketWith the Hibernian Insurance Group relocating to Upper Hatch Street soon, its city centre headquarters near the bottom of Grafton Street is now available to rent. Jack Fagan reports

An unusual opportunity for a company to move its headquarters into Dublin city centre will arise shortly when the Hibernian Insurance Group relocates from its long established offices in the Dawson Street area of Dublin 2.

The move will free up 4,282sq m (46,091sq ft) in three buildings on Dawson Street and Nassau Street, close to the bottom end of Grafton Street.

The availability of such space in one of the top city locations will interest companies who need to be in the city rather than areas, like Sandyford, where traffic congestion seems to be getting steadily worse.

Paul Scannell of HWBC chartered surveyors is quoting a rent of €452 per sq m (€42 a sq ft) and €4,000 for each of the 55 car-parking spaces which are accessed from Dawson Street.

Ideally, Hibernian would prefer to lease the three buildings in a single letting.

Alternatively, it will also consider letting as a separate lot 60-63 Dawson Street which has 2,600sq m (27,986sq ft) of net space over four floors with a ground floor reception.

This building is ideally suited as a corporate headquarters with its high profile location, open-plan floor plates, canteen and handsome reception area.

Hibernian is also vacating two floors in the distinctive building known as Hibernian Corner at the junction of Dawson Street and Nassau Street. The space on the first and second floors totals 762sq m (8,202sq ft) and offers clear views over the grounds of Trinity College.

The floors are laid out in a combination of open-plan, private offices, meeting rooms and boardroom. The entire first floor and part of the second floor of Nassau House will become available when Hibernian moves out. These floors have a total area of 958sq m (10,312sq ft).

Hibernian's new offices will be at Park Place on Upper Hatch Street where it is to rent 18,500sq m (199,132sq ft) from developers Clancourt. Hibernian is likely to be paying up to €538 per sq m (€50 per sq ft) for the fully fitted-out space under a lease which probably includes a break clause after about 15 years.

The Upper Hatch Street premises is due to be completed in November with the relocation planned for the end of this year and early in 2007.