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Published in Commercial Property on 06/06/2018

Central Plaza Granted Planning Permission

CNI Editor reports

Real estate companies Hines and the Peterson Group have received planning permission for the Central Plaza project in the heart of Dublin city centre.

Hines issued a joint statement on Wednesday welcoming the decision by An Bord Pleanála in relation to the site of the old Central Bank on Dame St.

Hines senior managing director Brian Moran said the company was “delighted” the project had got the go-ahead.

“With planning permission now granted it means full steam ahead for this exciting city centre project that will accommodate more than 1,300 office professionals,” he said.

The project will also create more than 300 new full and part-time retail and hospitality jobs across the five buildings that make up the Central Plaza complex.

As part of the “sensitive restoration” of the building’s interior that is “already well underway”, the former Central Bank headquarters will provide 73,100 sq ft of commercial office space across eight floors.

The facility will also comprise open plan and breakout meeting spaces to create a “modern environment that will be a highly desirable place to work”.

The building’s six metre high entrance lobby will be accessible via a grand staircase accessed from the plaza to a 15 metre wide glazed facade with double-height revolving doors.

“Once completed, Central Plaza is expected to become one of the most vibrant and dynamic areas in the city centre with the creation of 33,000 sq ft of retail, restaurants and cafés at street and basement level,” said Hines.

The existing plaza is also being expanded to create a “dynamic new streetscape” towards College Green and along Fownes Street and Cope Street, creating a link between Grafton Street, College Green, Trinity College and Temple Bar.

“Central Plaza is part of an overall master plan that includes adjoining properties 6-8 College Green, 9 College Green, and both the annex and commercial buildings on Dame Street,” the company said.

The 12,500 sq ft office component of 6-8 College Green was pre-leased to Amtrust Financial last year, which will begin occupying the space during the third quarter of this year.

The 10,000 sq ft ground floor retail unit in 6-8 will also be completed during that period, and the scaffolding on this building will be removed in the coming weeks.

Hines has engaged BNP Paribas as letting agents of the retail and hospitality offering for Central Plaza. It said it was “attracting significant interest” from major international and domestic retailers as well as food and beverage operators.

REF: Irish Times