Offices: The office building forming part of the €140 million Riverside IV at Grand Canal Harbour will be let at a rent of €500 per sq m, according to the newly appointed agent CB Richard Ellis Gunne.
Sean Dunne's Mountbrook Homes bought the last remaining 1.65-acre site and an adjoining 0.34-acre site earlier this year for almost €50 million and construction on the office building will start in January 2005. It will have a capital value of about €195 million.
CB Richard Ellis Gunne says it is already in discussion with potential tenants for the 9,200 sq m (99,028 sq ft) prime office building designed by RKD and believe it will be taken either by a large law firm looking for a new headquarters or expanding financial companies based in the IFSC.
The site can alternatively accommodate up to 37,160 sq m (200,000 sq ft) of offices and 75 apartments.
Riverside IV will also have around 146 apartments overlooking the Liffey which will be launched next spring and Mountbrook propose to build a further 20 apartments and a medical centre on the adjoining site.
The redevelopment of Grand Canal Harbour has been a runaway success, no doubt helped by its Dublin 4 location.
The former Bord Gáis 25-hectare site, running from Pearse to Macken Street, is now a hive of construction activity and, when finished, will have 100,000 sq m (1,076,390 ... sq ft) of offices, a landmark cultural building and a five-star hotel. The centrepiece of the development will be a public piazza, Grand Canal Square, which will be surrounded by a range of restaurants, bars and shops.
Apartments at Michael McNamara's Longboat Quay were sold from the plans last month and the €120 million Gallery Quay apartment scheme by the DDDA, Alanis Ltd, Redquartz Development and Pierse Contracting was sold off the plans last year. G
allery Quay will also have 980 sq m (10,549 sq ft) of ground floor retail space.
Roy Strudwick's Ryde Developments paid around €10 million for a 0.65-acre site earlier this year which will be used for a mixed office and retail scheme, adjoining Gallery Quay.
Work on the new Macken Street bridge, which will link the south and north quays, is to begin early in the new year.
