No 3 Dublin Landings a grade A opportunity at €55 per square foot
Iput seeks tenant for 119,000sq ft office space following €115m purchase
Following the recent completion of its €115 million acquisition of No 3 Dublin Landings from Ballymore and Oxley, Irish property company Iput is now offering the building to the letting market at a competitive rent of €55 per square foot.
Located immediately next to the respective headquarters of the Central Bank and the National Treasury Management Agency on the Dublin Landings campus, the subject property offers 119,000sq ft of grade A headquarter office space distributed over eight floors, which is complete and ready for tenant fit-out.
The building comprises six upper floors above ground and lower ground floors with a typical floor extending to about 15,500sq ft. The design of the property pays close attention to detail with high-quality finishes throughout. Tenant facilities are generous with the provision of 22 showers, dedicated locker areas and 157 secure gated bicycle-parking spaces. This is in addition to the 33 basement car-parking spaces. The property has a BER A3 rating and is on target to achieve LEED Platinum certification, which is line with Iput’s sustainable investment strategy.
Joint agents CBRE and Knight Frank are quoting €55.00 per square foot and €4,000 per car space, per annum (exclusive). All enquiries can be directed to Jim O’Reilly and Mark Headon at Knight Frank or Alan Moran and Paddy Conlon in CBRE.
Number 3 and the wider Dublin Landings development is well-located within the context of the city’s thriving docklands area. The newly-opened Mayson Hotel neighbours the scheme, while the Gibson Hotel, Point Square and the 3 Arena are all situated within a five-minute walk. The IFSC, the Convention Centre Dublin and the landmark Samuel Beckett Bridge, leading to Dublin’s south docks, are a 10-minute walk away. Salesforce’s new European headquarters meanwhile is being developed currently by Ronan Group Real Estate on the adjacent site.
Number 3 is just one of five commercial buildings Ballymore and its Singapore-headquartered partners Oxley developed as part of the Dublin Landings campus. Overall, the scheme extends to a million square feet of offices, residential and retail space. All four of the other commercial buildings have been sold, as have the 298 apartments which are due to be delivered between November 2019 and June of this year.
The north docklands scheme has proven to be a lucrative undertaking for both its developers and for the National Asset Management Agency. In a recent announcement to the Singapore stock exchange, Oxley said the development and sale of the commercial and residential buildings at Dublin Landings had generated €745.4 million. While the Oxley group is entitled to some €591.5 million of that total, Nama subsidiary National Asset North Quays DAC received the balance of €153.9 million.
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