Docklands offices to rent from €645 per sq m

OFFICE MARKET: With the south docklands fast becoming a new legal quarter, there should be plenty of interest in a medium-sized…

OFFICE MARKET:With the south docklands fast becoming a new legal quarter, there should be plenty of interest in a medium-sized office block just on the letting market in the area.

THE NEWLY completed string of office blocks along Dublin's south docklands is being identified as one of the products of the Celtic Tiger. The lengthy boom may be over but the area around Grand Canal Dock is now so firmly established as a strategic business enclave that there is still a strong demand for space there.

But, with few blocks available at this stage, some of the companies looking for new headquarters are finding it difficult to get buildings of a size to suit their immediate and future needs.

The south docklands area has been particularly popular with the large legal firms, having attracted five so far with two more due to relocate there over the coming year. All this letting activity seems set to benefit Ellier Developments which has just completed a high quality office block on Hanover Quay.

READ MORE

It is the only south-facing building in the entire south docks area looking directly over water.

The six-storey Hanover Reach block has a lettable area of 5,696sq m (61,311sq ft) focused on Grand Canal Harbour. The prominence of the building is accentuated by its extensive frontage on to Hanover Quay, Benson Street and a new street overlooking the site of a planned car park. There are 39 car-parking spaces in the basement.

Roland O'Connell of Savills HOK and James Mulhall of CB Richard Ellis are quoting a rent of €645 per sq m (€60 per sq ft) and €4,500 for car-parking spaces.

The design by Burke Kennedy Doyle is certainly eye-catching. The main elevations are clad in a combination of polished and flamed Cinzia granite with a proprietary powder-coated aluminium and glazed curtain walling system and glass balconies.

Internally, there is a handsome entrance hall and lift lobby finished in a combination of polished stone flooring and American walnut panels. One of the novel features of the development are two "sky cubes" on top of the building which are accessed from the sixth floor. These units, at either side of the block, will be seen as possibly the most unusual conference rooms in Dublin with 360-degree views across the city.

Otherwise there are also several attractive terraced areas to cater for staff. The second floor has been fully fitted out to demonstrate the high standard fit-out which includes low energy air-conditioning.

Chris Jones, who along with Francis Rhatigan runs Ellier Developments, said a huge amount of time, effort and thought had gone into the design of the building and the choice of finishes. "We are confident there is not a better building in the city," he says, suggesting that while it would be an ideal headquarters for a medium-sized company, it was also designed so that it could be let in multiple units.

The Hanover Reach office block adjoins an upmarket 57-unit apartment scheme also recently completed by Ellier.

The developer bucked market trends by selling 37 apartments during the launch week recently - a testimony to the superb location and the quality of the homes.

Hanover Quay is already well established as an important new work and living area fronting on to Grand Canal Harbour. The plaza, designed by Martha Schwartz with its dramatic red and green lighting scheme, has proved a major attraction in the city centre.

A five-star hotel to the side of the plaza is at an advanced stage of construction.

In the meantime, local workers and residents are able to avail of a range of new restaurants and convenience stores.