Ocean plans Grand Canal Plaza base for its new HQ

Ocean, the new telecommunications company formed by the ESB and British Telecom, has confirmed it is to locate its new headquarters at the Grand Canal Plaza in Dublin 2. The company will be paying a rent of just over £22 per sq ft for an entire block of 60,500 sq ft, due to be completed by Rohan Holdings next September. The 25-year lease, signed last week, is understood to include a break clause for Ocean, which employs a staff of 100 and plans to increase this number to over 200 in the coming 12 months. The first block at Grand Canal Plaza, with about 40,000 sq ft, is to be rented by the computer company Visio at the same rent level. Jones Lang Wootton, who is the letting agent for the development, is in discussions to lease the final block of 48,000 sq ft. Collier Jackson-Stops advised Ocean.