Iput adapts office model to lure business from high-growth firms

Dublin’s largest office landlord enters the market for flexible workspace solutions

 

Irish property company IPUT Real Estate is entering the market for flexible work space, with a plan to deliver up to 120,000sq ft of office accommodation targeted at high-growth companies looking to locate and build their operations in the capital.

While Iput’s ambition will see some 5 per cent of its 2.4 million sq ft prime Dublin office portfolio being dedicated to flexible use over the coming years, the company’s Making it Work platform is designed to cater specifically for corporate clients within self-contained floors.

As such, the brand’s locations will not feature co-working or shared workspaces for individual use.

Making it Work, Pearse Street, a four-storey 15,000 sq ft building, will be its first ‘space as a service’ location. The property comprises four separate floors with an auditorium and a large gym on the lower-ground level and has been designed, Iput says, to “exceed the market standard for flexible offices”.

Strava, a global digital platform for athletes with a reported 88 million members across 195 countries, will be Iput’s first Making it Work customer, taking 5,500sq ft on the ground and first floors of the Pearse Street building for a three-year term.

Additionally, The Workshop, a new 2,000sq ft CrossFit gym run by independent operator, Gary Featherstone, is open on the lower-ground floor with general membership available to the public as well as those working in any Making it Work office. Strava was represented in its negotiations with Iput by Savills while The Workshop was represented by Mark Smyth of MSP Consulting.

Commenting on the opening of Making it Work’s first location, Iput Real Estate CEO Niall Gaffney said: “The demand for flexible leasing options is growing globally. Similar to leading international real estate players operating in cities around the world, we have identified the opportunity to develop our own platform in Dublin to attract, and incubate, high-growth occupiers within our portfolio.

“Our offering combines the quality of office space for which we are known, with the flexibility that high-growth companies need. Making it Work will consolidate our position as the landlord of choice in the Irish market.”

Simon McEvoy, Making it Work lead at IPUT Real Estate added: “Strava is the world’s leading social sports brand and to welcome them alongside The Workshop, an exciting new Irish CrossFit-focused gym, as our first customers is a strong endorsement of our model.”