While the office market in Dublin and elsewhere continues to be challenged with companies reassessing their requirements in the wake of the Covid-19 pandemic, there are some signs of increasing activity in the city’s traditional central business district and south and north docklands.
After engaging in an intensive, 12-month marketing campaign, joint letting agents BNP Paribas Real Estate and CBRE have managed to secure occupiers for the entire of 57 Adelaide Road, Dublin 2, on a floor-by-floor basis. The recently refurbished grade-A building, which extends to 1,455sq m (15,663sq ft) is now home to BNP Paribas Real Estate Ireland, Murgitroyd, Acacium Group and, as of last month, VMO Aircraft Leasing.
BNP Paribas Real Estate Ireland were the first tenant to move into the property and agreed to lease the entire ground floor extending to 451sq m (4,854sq ft), while European patent and trademark lawyers, Murgitroyd took a lease on the second floor extending to 347sq m (3,730sq ft) on a 10-year term.
Acacium Group, which specialises in recruitment, agreed to lease the penthouse floor extending to 237sq m (2,549sq ft) on a 10-year term while the final letting to VMO Aircraft leasing was for the first floor suite extending to 421sq m (4,530sq ft) on a 10-year term. Rental levels across all four lettings are understood to have been in the region of €538 per sq m (€50 per sq ft) and €3,500 per car space per annum.
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BNP Paribas Real Estate and CBRE are seeking tenants for the adjoining Corrib House, an end-of-terrace self-contained Georgian office building fronting onto Lower Leeson Street. The subject property extends to a net internal area of 397sq m (4,270sq ft) and is available for immediate occupation. The specification includes solid floors, perimeter trunking wired for power and data cabling, gas-fired central heating and an eight-person passenger lift. The quoting rent has been set at €350 per sq m (€32.50 per sq ft).
57 Adelaide Road and Corrib House are well located within the city’s central business district. Nearby occupiers include Deloitte, Arthur Cox, Zendesk, WeWork, Amazon and LinkedIn while the immediate area is home to a range of amenities including coffee shops, bars, restaurants and shops. The property also benefits from its close proximity to excellent public transport links including several Dublin Bus routes and the Luas green line stop at Charlemont.
