Commercial Property

Offices in Dublin’s Hanover Quay go on the market to rent or buy

BNP Paribas seeks €10.8m for two high-end suites in South Dock House that fit 100 staff

The two suites at South Dock House fit up to 100 staff, with a boardroom for 14

Justin Comiskey
Wed Feb 20 2019 - 05:00

Two high-end south docks office suites – one occupied by Dublin-listed property investment trust Hibernia REIT – are on the letting market at €672.75 per sq m (€62.50 per sq ft) or available to buy for a combined €10.8 million.

Keith O’Neill of BNP Paribas Real Estate, who is handling the sale/letting on behalf of owner Hibernia REIT, says that the combined suites could accommodate up to 100 staff.

They are located on the first floor of South Dock House on Hanover Quay and are accessed via an attractive ground-floor reception area.

South Dock House overlooks Grand Canal Dock, and is across the square from the Bord Gáis Energy Theatre

Hibernia plans to relocate to the last remaining suite in its 1WML development which is also in the south docklands but closer to the Sean O’Casey pedestrian bridge.

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This large scheme includes 11,334sq m (122,000sq ft) of offices and 650sq m (7,000sq ft) of retail that is nearing completion. Tenants there already include Core Media, Pinsent Mason and Informatica.

The property trust’s fully fitted-out Hanover Quay suite extends to 524sq m (5,640sq ft) of predominantly open-plan space on the first floor and comes with seven basement car-parking spaces which rent at €4,000 each.

It includes a 14-person boardroom, two smaller meeting rooms, kitchenette and cloakroom facilities. There are floor-to-ceiling windows throughout with views over Grand Canal Dock.

The office space at South Dock House is mainly open plan

An adjoining suite, accessed via a common lobby area, is occupied by US global investment and advisory financial services firm Guggenheim. It occupies 418sq m (4,499sq ft) on a lease that expires in April 2020 and rents three basement car-parking spaces at €4,000 each.

This may allow an occupier to eventually lease both suites for a combined 942sq m (10,139sq ft).

The suites are above ground-floor retail, and there is residential space on the six floors above.

South Dock House, adjacent to the Marker Hotel and Bord Gáis Energy Theatre, was originally developed by Park Developments and built by Sisk in 2007. The wider Hanover Quay scheme included 300 apartments and 5,500sq m (59,201sq ft) of commercial space.

Retail space occupies the ground floor, and residential units sit across the upper six floors

This part of the docklands is virtually fully developed with the last few sites currently being built out. It is home to many standout names in the tech scene, such as Facebook and Airbnb, and is within walking distance of the Dart and Luas.

Just last week, Savills and CBRE put Park Developments's nearby Reflector office building on the market at €155 million.

The six-storey over-basement building has 11,250sq m (121,089sq ft) of office space, 329sq m (3,546 sq ft) of restaurant space, 34 car-parking spaces and will produce a rent roll of €7 million. It is one of the largest assets on the market so far this year.

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