IDA Ireland moving to new global HQ in Dublin 2

State agency joins two others in 25-year leases for 170,000sq ft block on Upr Hatch St

Three Park Place, Upper Hatch Street, Dublin 2

Three Park Place, Upper Hatch Street, Dublin 2

 

After almost 35 years at Wilton Park in Dublin 2, IDA Ireland is to relocate to a newly developed global headquarters at at Three Park Place on Upper Hatch Street in Dublin 2. The current lease is due to run out next year.

The State body will be joined by the two other agencies, Science Foundation Ireland and the Sustainable Energy Authority of Ireland, in sharing all nine floors in the new €80 million building developed by the Clancourt Group. The building extends to 15,878sq m (170,000sq ft) and overlooks the Iveagh Gardens.

The IDA is to rent six of the floors while the three others are to be shared by the other two State companies under 25-year leases, with break options in year 10. The rent has been agreed at €645 per sq m (€60/sq ft). A total of 45 car parking spaces will cost an additional €4,000 per space.

IDA Ireland executive director Mary Buckley said the move to the new building would mark an exciting new chapter in the IDA’s history as it approached almost 70 years in operation. The new HQ would provide the agency with an excellent location from which to market to global investors, she said.

Declan O’Reilly of agent Knight Frank advised Clancourt while Fergal Burke of GVA Donal O Buachalla acted for the IDA.

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