OFFICE MARKET:A NEW OFFICE building to front onto the Liffey quays in Dublin city centre is expected to be of particular interest to legal firms when it is offered for sale on a floor-by-floor basis as well as suites.
Paul Hanly of HT Meagher O'Reilly is quoting up to €8,073 per sq m (€750 per sq ft) for space in the building which will extend to 3,600sq m (38,750sq ft).
Leading firm John Paul Construction is to develop the block at Ormond Quay, directly opposite the headquarters of Dublin City Council at Wood Quay. It is due for completion in March, 2009.
John Paul Construction was awarded the development contract by the city council after a tender procedure which evaluated the architectural merit of the proposed building as well as the firm's reputation for delivering the finished product.
Designed by architects DMOD, the building will offer considerable flexibility to users. Floors will be available from 410sq m (4,400sq ft) to 845sq m (9,100sq ft) while suites will range in size from 52sq m (560sq ft). Purchasers should be able to save on stamp duty by buying into the scheme at this early stage. One such purchaser has already reserved the entire fourth floor.
The selling agent says that the block will be finished to a high specification. The agent also notes that there have already been inquiries from a range of corporate and professional firms anxious to have a base in Dublin's principal legal quarter.
Some of the office space is also likely to be available for letting on terms yet to be set.
