Savills targets tech giants and Brexit movers for docklands site

Park Developments’ €100m Reflector building offers office and residential space

Image of the Reflector building in Dublin’s docklands which is expected to be completed in 2018. Photograph: Park Developments

Image of the Reflector building in Dublin’s docklands which is expected to be completed in 2018. Photograph: Park Developments

 

Irish property group Park Developments will today begin marketing its €100 million Reflector building in Dublin’s docklands, which will comprise of high-end office and residential accommodation when it is completed in 2018.

The Dublin-based company has appointed Sisk as the main contractor on the site and engaged real estate agents Savills to seek tenants for 125,000sq ft of offices situated on Hanover Quay and Grand Canal Dock.

The offices are expected to accommodate more than 1,000 staff and are due to be completed in the third quarter of 2018.

Savills will seek €55 per sq ft for the space, placing it just below the top rents being achieved in Dublin’s central business district at present.

The building will offer two separate reception areas, allowing Savills to seek multiple tenants for a property that will have extensive water frontage spanning 75 metres.

In addition, 40 one, two and three-bed apartments are planned for the site with a view of the Pigeon House in Ringsend, and a 3,500sq ft retail unit or restaurant. These are also due to be ready in three years’ time.

Established in 1962, Park Developments was one of the original Grand Canal Dock developers more than 10 years ago with the highly successful Hanover Quay scheme.

Busy business district

Run by Michael Cotter, it has also built more than 15,000 homes.

The six-storey over-basement office block will have floor plates of 23,000sq ft , and offer energy-efficient space with lots of natural light.

The receptions will have ceiling heights of four metres throughout.

The floor plates have been designed to maximise the space along the south-facing waterfront.

“The key selling point is the huge waterfront views,” Savills executive Andrew Cunningham told The Irish Times.

Mr Cunningham expects the building to be of interest to technology companies, professional services firms, and the financial services sector, particularly post-Brexit.

“We’ll be interested in talking to potential movers from London,” he said.

Grand Canal Dock is a busy business district and already houses a broad range of indigenous and multinational companies, including Accenture, Airbnb, Facebook, Google, Twitter and LinkedIn.

The building was designed by Dublin-based BKD Architects.