Gas Networks Ireland has engaged agent Avison Young to find a buyer for the former headquarter offices of Bord Gais Energy on Foley Street in Dublin city centre. The building, located at the junction with Buckingham Street Lower and just off Amiens Street, is being offered to the market with full vacant possession at a guide price of €9.5 million. The figure is nearly €4 million less than the €13.83 million the then Bord Gais paid for the property in 2021.
Built on the former site of the Macushla Ballroom on foot of a development agreement with Bord Gais, number 1 Foley Street served as the company’s headquarters until it relocated to One Warrington Place in 2012. The building was occupied subsequently by Irish Water under a lease from Gas Networks Ireland, which has now expired.
Extending to a net internal area of 3,331sq m (35,860sq ft) distributed across five floors over basement level, the property comes for sale fully fitted and with the benefit of 20 secure basement car parking spaces. The building also includes a separate retail/storage unit fronting Beaver Street.
The office accommodation is furnished to a high standard and comprises a mix of open-plan and private office space, meeting rooms, a 50-seat auditorium, a commercial kitchen and canteen, locker rooms and shower facilities. The building features a wrap-around terrace at fourth-floor level.
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The property can be subdivided on a floor-by-floor basis if required, with each floor having its own server room, toilets and kitchenette facilities.
The building is readily accessible thanks to its close proximity to a number of public-transport links. Connolly Station is about a five-minute walk away, offering quick access to the Dart, Luas red line and mainline rail services while Busáras is nearby also.
Edmond Nolan of Avison Young says he expects the offices at number 1 Foley Street to see interest from a range of parties including owner-occupiers, investors and serviced-office operators. He adds that the building has potential for conversion to other uses including education, healthcare, residential, or hostel, subject to planning permission.
