Record rent of €753 per sq m sought on canal

OFFICE MARKET:Should One Warrington Place on the Grand Canal in Dublin 2 be leased for the quoted price, it'll set a new benchmark for office rents in Dublin, writes Jack Fagan.

A DISTINCTIVE new office building nearing completion at the junction of Lower Mount Street and Warrington Place in Dublin 2 is likely to set a new record for rents in the city when it goes on the letting market in the coming weeks.

One Warrington Place, an eight-storey block with a net floor area of 5,211sq m (56,103sq ft), is to be offered for letting in its entirety or on a floor-by-floor basis at a rent of €753 per sq m (€70 per sq ft) and €4,500 for each of the 31 car-parking spaces.

The highest rent so far in the city has been the €700 per sq m (€65 per sq ft) secured for a suite at the newly redeveloped 75 St Stephen's Green.

Declan O'Reilly of HT Meagher O'Reilly and James Nugent of Lisney are the joint letting agents for One Warrington Place.

Businessman David Arnold has developed a wide range of office and apartment buildings over two decades but, after assembling what is a superb site overlooking the green corridor of the Grand Canal, he was determined to come up with something special. This he has managed to do with a landmark building along one of the busiest entrances to the city centre.

The three dimensional façade includes a large curved drum to add drama and a focal point at this important junction. The oversailing roof along with the cladding elements and a fluid sculpture by artist Michael Warren, all formed from bronze, add a "wow" factor to the elevational treatments of One Warrington Place.

The materials, sourced in Germany, fabricated in Italy and treated with bees wax to maintain their natural lustre, all add to the striking appearance of the block.

Floor places range in size from 522-766sq m (5,618-8,250sq ft) but because they are shallow in depth they get natural light from all the façades.

The various floors are focused on the Grand Canal and the Georgian character of the houses running along it but the upper levels also provide panoramic views across much of the city towards the coastline. Close consultations between architects Henry J Lyons and interior designers Moray Smith has resulted in a fresh approach to the interior fit-out.

The entrance foyer, with its bridge connection and the use of reclaimed materials balanced with highly visual and modern elements (including lighting and furniture), provides an up-to-date vision of the modern office. Otherwise, the toilets feature some of the best fittings found in any city office block. There are also suspended ceilings, raised access floors, recessed lighting and a four-pipe fan coil air-conditioning system.

One Warrington Place will obviously appeal to firms that don't want to be caught in the rush towards the Dublin docklands. The more mature setting and the close proximity to long established bars, restaurants and shops will have a strong following.