Cubic Telecom has taken out a long-term lease for almost 30,000sq ft of Sandyford office building the Hive, in what is the second-largest office letting in the Dublin suburbs this year.
The letting, by commercial real estate agency HWBC to the Irish software company, includes an option to expand.
Cubic Telecom, which was founded by serial entrepreneur Pat Phelan but developed in its current form by chief executive Barry Napier who acquired the business in 2008, is a leader in software and analytics for the premium automotive, agritech and transport sectors. The Sandyford lease is part of its investment in creating a “high-energy, highly collaborative workspace for its expanding workforce” as it continues to scale up globally.
HWBC advised the landlord, while FJ Frisby & Associates acted on behalf of the tenant.
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Outside the city centre, only Iput’s letting of 33,000sq ft in a Carrickmines Park building to the HSE has been a bigger letting in the Dublin office market in 2022.
“We are delighted to announce this letting to Cubic Telecom, which accounts for roughly 40 per cent of total availability in the Hive. Their expansion and relocation within Dublin 18 also demonstrates continued confidence in Sandyford as the premier suburban office location in Dublin,” said HWBC’s Paul Scannell.
“We are also seeing improved market interest for the remaining space since the easing of restrictions as occupiers move to revisit space requirements.”
Mr Napier highlighted the importance of collaborative office space for the company.
‘’Cubic Telecom has always been a place where great teams thrive on interaction, and now that the pandemic is in a more manageable phase, we’re excited to invest in an energising, high-quality and really unique space where our team can develop their best ideas,” he said.
The company has “put sustainability front and centre” in its fitout choices, which are almost entirely made of recycled materials. They include wall panels made from Indian railway sleepers, vintage mango benches and flooring made of recycled vinyl.
The former Ballymoss House was redeveloped into The Hive by developer U+I and partners Colony Capital, with the project completed in 2019. Some 26,000sq ft of office space remains available in the building.