Penthouse in IFSC extension for letting

A penthouse with spectacular views over the city centre and Dublin bay has come on the market in the extension to the International Financial Services Centre. Douglas Newman Good Commercial is quoting a rent of £35 per sq ft for the 10,000 sq ft of office space on the top floor of AIG House which is due to be completed early next year.

The EU has yet to rule whether developments such as AIG in the extension of the IFSC will qualify for the full range of tax breaks. If double rent allowances do not become available, then the agents are likely to settle for a reduction of about 10 per cent on the rent of £35 per sq ft. Irrespective of how the EU ruling goes, the tenant will not have to pay rates for 10 years.

Douglas Newman Good has already let 75 per cent of the space in the 75,000 sq ft block which will is located on the North Wall Quay overlooking the site of the national conference centre at Spencer Dock.

AIG is to occupy 30,000 sq ft and the other tenants will include companies in the financial services and computer industries. In addition to the penthouse level, the agents are also offering two other office units on the second and third floors with 6,670 and 2,700 sq ft.

Parking in the basement carpark will be allocated at a ratio of one space per 1,000 sq ft at a rent of £1,600.

One of the features of AIG House will be its open-plan layout. The largest company moving in to the extension to the IFSC is Citibank, which is to occupy almost 200,000 sq ft.