The fast-recovering Dublin office market is to get another boost with the decision by chartered accountants KPMG to look for a new headquarters of over 23,225sq m (250,000sq ft).
The move comes at a time when several other leading firms are also seeking large new office buildings because of a rapid growth in business.
Bank of Ireland is apparently looking for at least 37,160sq m (400,000sq ft) when it moves to a new headquarters; Anglo Irish Bank is currently examining about 15 offers of sites for its new headquarters of over 15,793sq m (170,000sq ft); solicitors Arthur Cox is in the market for 11,612sq m (125,000sq ft); another legal firm, Frys, is reputedly looking for about 6,503sq m (70,000sq ft); and solicitors O'Donnell Sweeney plan to move to a block of about 3,716sq m (40,000sq ft).
KPMG is renting 10,219sq m (110,000sq ft) in three buildings in Russell Court on St Stephen's Green. The offices are owned by Treasury Holdings and the lease has about 10 years to run. KPMG, which employs over 1,450 staff in Dublin, also occupies a block of 5,574sq m (60,000sq ft) in the IFSC.
The company has appointed WK Nowlan and Associates to advise it on the various options available in Dublin over the next few years, bearing in mind the long term needs of the firm and issues such as costs and public transport. "The firm emphasises that they are not in a rush to make a move as they have capacity to grow the business in the short to medium term within their current floor space," it said in a statement.
