Aviation leasing giant signs deal for new HQ at Fitzwilliam 28

Just one week after Facebook scaled back its plans for its new European headquarters in Ballsbridge, the Dublin office market has received a much-needed boost with SMBC Aviation Capital signing for all 135,617 sq ft of space at the Fitzwilliam 28 scheme in the city centre.

While the aviation leasing giant had, as The Irish Times first reported, been involved in negotiations for the building since last May, it is understood the deal was finally signed yesterday afternoon. SMBC has agreed to occupy the property on the same terms as its original, intended tenant.

The US-headquartered workplace collaboration specialist, Slack Technologies had, for its part, committed to a long-term lease in early 2020 at a rent of €7.7 million annually.

That plan was abandoned when Slack was acquired subsequently for €27.7 billion by Salesforce. Slack’s entire operations will now be located at Salesforce’s new European headquarters in Dublin’s north docklands. Agent Cushman & Wakefield secured the lease assignment on behalf of Salesforce while Savills are understood to have represented SMBC Aviation Capital.

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Fitzwilliam 28 is one of two adjoining but independent blocks developed by the ESB. The sister block to 28, Fitzwilliam 27, is to be owner-occupied by the utilities provider.

The Fitzwilliam 28 scheme is owned by Amundi Real Estate, a specialist subsidiary of Europe’s leading asset manager Amundi, a company with some €1.527 trillion in assets under management. Amundi acquired Fitzwilliam 28 for €180 million in November 2020.