Knotel accelerates Dublin expansion with two docklands deals

Flexible workspace provider, Knotel, has increased its offering in the Dublin office market with the addition of two further properties in the city's booming docklands area to its portfolio.

Having established its presence in November 2019 by taking three floors totalling 733sq m (7,894sq ft) at a rent of €55 per sq ft in Riverview House on City Quay, the New-York headquartered company has now signed leases for 816sq m (8,785sq ft) at the Bloodstone Building on Sir John Rogerson’s Quay and 805sq m (8,666sq ft) at Ashford House on Tara Street, Dublin 2. Facilitated by Savills, the agreement of the two deals brings Knotel’s total space in Dublin to 2,362sq m (25,435sq ft). While Savills declined to comment further on the terms of the latest transactions, it is understood Knotel has agreed to pay rents of close to €55 per sq ft and €50 per sq ft respectively for the Bloodstone and Ashford House offices.

While the process of securing occupiers for the office spaces at the Bloodstone and Ashford House has only just begun, Knotel has signed ThousandEyes, a San Francisco, California-headquartered cloud and internet intelligence company as its latest Riverview House client. From March, ThousandEyes will join Ivy Technology, who have just taken up occupation of the building's penthouse floor.

Customer demand

Commenting on Knotel’s plans for the Dublin market, the company’s head of European expansion, Frank Zorn, said: “Many enterprise customers from across a number of our markets have inquired about Knotel’s offering in Dublin.

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“Our entry to the Irish market is based upon customer demand, and the growing maturity of Dublin’s commercial real estate market. We look forward to providing our tailored and scalable workplace platform to new and existing customers in Dublin, aligned with their business and property needs.”

Since being established in 2016, Knotel has grown its business both in the United States and internationally to include office spaces in New York, Washington DC, Los Angeles, Boston, San Francisco, São Paulo, London, Paris, Amsterdam, and Dublin. In 2019 alone, Knotel increased its customer base by 124 per cent globally, and now works with 20 per cent of Fortune 100 companies.