Keen bidding expected for canal-side office site
Offers in excess of €4m sought for site of semi-derelict 1970s office building formerly known as McConnell House
A timely redevelopment opportunity for a new office building in Dublin’s south inner city goes on the market today when Knight Frank begin marketing a key site beside the Hilton Hotel at Charlemont Place in Dublin 2.
The agency is seeking offers in excess of €4 million for 0.28 of an acre currently occupied by a semi-derelict 1970s office building formerly known as McConnell House.
Full planning permission was granted in February 2013, for the demolition of the block and the construction of a new part four- and part six-storey over a basement office building with a gross floor area of 4,270sq m (45,961sq ft) and 10 basement car parking spaces.
The new building, designed by architects Henry J Lyons & Partners, will cater for both single or multiple occupancy tenancy requirements with floor plates ranging between 185 and 650sq m (2,000 and 7,000sq ft).
Tenants will have viewing balconies on each level, a sunken garden at lower ground floor level and a deck garden alongside the penthouse.
The design envisages a simple pallet of materials for the facades including brick, curtain walling systems and anodised aluminium panels which are geared to achieve a BER A rating. The energy strategy has been designed to reduce carbon dioxide emissions and minimise energy use by optimising orientations and façade design to avoid overheating, promote natural ventilation cooling systems and reduce running costs.
One of the many selling points for the site is that it is located less than 20 metres from the Charlemont Luas Stop. It is even closer to the 193-bedroom Hilton Hotel, which was recently bought by the US businessman John Malone. He also owns the Trinity Plaza on Pearse Street in the city centre.
Evan Lonergan of Knight Frank said that with an obvious shortage of new office sites in Dublin 2 they expected strong bidding in this instance particularly as it had full planning permission for what would be a top-rate building. The proposed size was ideal and would attract developers and owner-occupiers.
The site is on the opposite side of the Grand Canal from the former headquarters of the Irish Nationwide Building Society which was bought by London & Regional Properties, an investment fund which is expected to seek planning permission for a substantial office development on the 1.7 acre grounds.