North Wall Quay sites shortlisted for new bank HQ

AIB Capital Markets has shortlisted two waterfront sites on North Wall Quay in the Dublin docklands for its new headquarters which will extend to 37,160sq m (400,000sq ft). It is currently based in the IFSC.

Leading developers Treasury Holdings and Liam Carroll's Danninger have made presentations to the board of the bank on rival schemes which will take about 30 months to complete. Sources in AIB Capital Markets suggested that a decision may be made before Christmas on whether to choose either the Treasury proposal for the former Tedcastle site or the Danninger scheme on the old Brooks Thomas site.

Both developers have engaged leading UK architectural firms to design what is described as a "signature building of considerable distinction". It is likely to exceed 20 storeys, making it the tallest building in the docklands, apart from the proposed U2 Tower planned for Britain Quay on the south docks.

A new masterplan for the area - being prepared by the Dublin Docklands Development Authority and due to be released in the coming weeks - is expected to recommend that the current seven-storey height restriction should not apply to certain high profile sites on the north quays. Both the Treasury and Danninger sites are expected to benefit from the change of policy.

The same sites are likely to have been considered by Bank of Ireland which is looking for a front office headquarters of 23,225sq m (250,000sq ft) and a back office of 46,450sq m (500,000sq ft). It is also studying a site close by at Eastpoint where attractive terms have been offered by the developers.

Leading accountants and business advisers KPMG is also thought to have looked at both sites on North Wall Quay. It is understood that KPMG has not yet decided on a venue to replace its offices at St Stephen's Green in Dublin city centre. KPMG is looking for between 23,225sq m and 35,208sq m (250,000sq ft and 380,000sq ft).

PricewaterhouseCoopers has already relocated to Spencer Dock in the north docks where it is renting three buildings from Treasury Holdings. The firm is occupying 20,438sq m (220,000sq ft).

Most of the companies looking for substantial new office blocks in the city are concentrating their search on the north docklands where most of the major developments are expected to take place in the coming years.

This year about 60 per cent of all office deals were in the city centre, particularly in the Dublin 1, Dublin 2 and docklands areas.