Green Reit plans another ambitious build for Central Park

The strongly performing Green Reit company has embarked on the development of another substantial office building at Central Park, Leopardstown, Dublin 18, only weeks after letting the newly built 14,700sq m (158,000sq ft) Block H to Allied Irish Banks.

Building 1 will extend to about 9,300sq m (100,000sq ft) of lettable space together with a remarkable 156 basement car spaces after excavating a double level basement car park as part of the Block H project. The next building will be available to let in its entirety or floor by floor when it is completed in Q4 of 2018.

Significantly, Building 1 will be developed with column-free floor plates extending to 1,230sq m (13,200sq ft) – the first such configuration in a Dublin suburban office development. The layout will also include a number of staff facilities such as dedicated shower rooms and bike storage, as well as large terraces on the penthouse floor offering superb views across the Dublin Mountains.

Central Park is now well established as Dublin’s leading office park, with full occupancy through the 79,000sq m (850,000sq ft) of built space and a total contracted rent of €23.7 million per annum.

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Once Building 1 is completed towards the end of 2018, the remaining 4.5 acres at Central Park will provide further scope for development. Planning consents are already in place for a minimum additional development of 28,000sq m (300,000sq ft).

Paul Culhane, development director of Green Property Reit Ventures, said they were pleased to begin constructing their next office building in what was widely acknowledged as Dublin's premier office park. He said the company looked forward to adding to the list of blue chip tenants in the park, which include AIB, Ulster Bank, Bank of America Merrill Lynch,Vodafone and Salesforce.

Green Reit is also currently developing an additional office building at 5 Harcourt Road in Dublin 2. The 4,645sq m (50,000sq ft) block will have eight impressive floors, with a typical floor extending to 743sq m (8,000sq ft). The building will be available as a standalone headquarters or on a floor-by-floor basis when it is completed in Q1 of 2018.