Nama to finance €87m office building in Dublin

Nama is to finance an €87 million Grade A office development on the North Wall Quay in the Dublin docklands. The site previously formed part of the development lands held by the now defunct Treasury Holdings near the 3 Arena.

Receiver Declan McDonald of PwC has lodged a planning application for the seven- to nine-storey block containing office space of more than 35,302sq m (380,000sq ft) which will be capable of accommodating 4,000 workers.

Key addition

ABK Architects has designed the building which will have one of the largest single floor plates in Dublin (4,180sq m/45,000sq ft) with the option of subdividing it.

Nama chief executive Brendan McDonagh said the proposed development would be a key addition to Nama’s plan to make the Dublin docklands a better place to invest, create jobs or find a home.

Ronan Corbert of DTZ Sherry FitzGerald, which has been appointed letting agent for the offices, said the delivery of such a significant amount of prime water-fronting space was exactly what Dublin city required as the acute shortage of offices loomed ever larger.

One of the unique selling points of this building would be the size of the floor plates. He said office buildings in Dublin traditionally tended to have relatively small floor plates unlike other international cities such as London and San Francisco where large single divisible floor plates were common.

This latest planning application follows recent proposals submitted to Dublin City Council by Nama-appointed receivers for Ireland's tallest commercial office building, known as Exo, and the single largest student accommodation block planned for Mayor Street in addition to a strategic north-south street linking North Wall Quay and Sheriff Street.

These developments near the 3 Arena will anchor this part of the North Quays and possibly establish it as one of the gateways into the city.