While the Dublin office market may be seeing a surplus of supply over demand right now, Willie Dowling of Colliers and Sam Daunt of CBRE will be hoping that the requirement of employers for best-in-class, sustainable accommodation will help to separate Glenveagh’s freshly completed Freight Building from the competition.
Located next to Point Square in the city’s north docklands, the building comprises 104,000sq ft of space distributed over 10 floors. Typical floor sizes are 12,100sq ft and a variety of leasing size options from 3,500sq ft are available to prospective occupiers. The property has already secured its first occupier with DanuExp due to open a 13,800sq ft serviced-office centre there in September. While the terms of the management agreement with Glenveagh have not been disclosed, The Irish Times understands DanuExp is paying about €45 per sq ft and has committed to a term of 10 years with a break option in year five. Glenveagh is fitting out the office space and the profits from its operation will be split between the parties.
The Freight Building should appeal to companies looking to meet their ESG (environmental, social and governance) goals. The property is A-rated for energy usage and has LEED Gold, WELL Gold and NZEB (nearly zero energy building) credentials. Apart from its grade-A office accommodation, the building includes a large, bright reception area, ample bike parking, male and female shower and locker facilities, five high-speed lifts and balconies offering commanding views over Dublin. The property is also situated immediately beside the newly opened Premier Inn Hotel, which was also developed by Glenveagh.
In terms of its accessibility, the Freight Building is well connected by public transport thanks to its close proximity to the Luas red-line stop at The Point. The nearby East Link Bridge provides a direct route to the city’s southside while the entrance to Dublin Port Tunnel is close by, giving quick access to both the motorway network and to Dublin Airport.
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Willie Dowling of Colliers, who has been actively involved with the Freight Building project since its inception, says: “The developers are offering a hands-on approach to securing lettings and can provide a variety of fitout and financial packages. I would encourage any potential occupier to take a tour of the accommodation so that they can appreciate its offering.”
Sam Daunt of CBRE adds: “The Freight Building’s design has been driven by a commitment to high sustainability credentials and an enhanced end-user experience. It’s an ideal choice for businesses seeking the optimum office experience.”
