Kennedy Wilson has received planning permission for a development at Hanover Quay in Dublin's south docklands.
In a joint venture with the National Asset Management Agency (NAMA), the New-York listed real estate investment company expects to complete the property totalling 87,400sq ft by the third quarter of 2020.
The company which focuses on office properties is planning to begin construction on the office building by the fourth quarter of this year. When it’s completed, Hanover Quay is expected to have 68,400sq ft of usable space.
Acquired in 2017, the site is adjacent to Kennedy Wilson’s Capital Dock development where JP Morgan and Indeed are confirmed as anchor occupiers.
"Hanover Quay is the last piece of the jigsaw for this key city hub, benefiting from the fantastic amenities to be offered at Capital Dock," said Mary Ricks, president and chief executive of Kennedy Wilson Europe.
“The Dublin office market remains very attractive with occupier demand outstripping supply,” she added.
Now that planning permission has been granted for the development it will be marketed to potential tenants and the company expects to appeal to a “wide variety of potential occupiers”.
“We are seeing growth in demand from both domestic occupiers and foreign direct investment (FDI) companies. We expect that Brexit will continue to add to that FDI demand over the next few years,” Kennedy Wilson said.
