Gilead takes 30,000 sqft in North Dock Two - Construction Network Ireland - Construction Network Ireland

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Published in Commercial Property on 08/07/2020

Gilead takes 30,000 sqft in North Dock Two

#savills

CNI Editor reports

Gilead, the major therapeutics company, have committed to a new office in the North Dock scheme which is being developed by TIO. The new office building, overlooking the River Liffey, will be the first NZEB (near zero energy building) office building finished in Dublin and sets a new standard in sustainability.

Extending to over 200,000 sq ft the North Dock scheme is spilt between two blocks, 95,000 sq ft in North Dock One and 108,000 sq ft in North Dock Two. The successful letting of over 30,000 sq ft in North Dock Two to Gilead is a testament to the overall appeal of these landmark office buildings with column free floors, full height glazing, impressive water frontage and magnificent views over Dublin.

The nine-storey buildings are sustainably designed to achieve LEED Gold, BER of A3 and NZEB compliance, a focus has been placed on passive design measures to reduce overall energy consumption.

Upon completion North Dock One and Two will accommodate more than 2,000 employees.

The new Government, with its increased focus on environmental factors, will no doubt be heartened to see sustainable new buildings like North Dock coming to completion. Public Sector occupiers are obliged to lead by example by favouring buildings which comply with NZEB standards. To date this has been difficult as there have been none available but North Dock is the first of a growing number of buildings under construction which will achieve this benchmark.

Located in Dublin Docklands immediately adjacent to Point Square and the 3 Arena, this area is quickly becoming the focus of lunch time and evening social activity on the North side of the Liffey. With an eclectic mix of amenities including two hotels, student housing, the Odeon Cinema and an ever-increasing number of restaurants and coffee shops all contributing to this vibrant area. 

North Dock, in addition to its high-profile river front location and large column free floor plates is also ideally located for commuters and visitors. The Luas terminus at Point Square is directly to the rear of the buildings and this connects to the DART and mainline rail at Connolly Station as well as the bus services at Busaras. International travellers can access the Airport within 15 minutes via the Port Tunnel which also eases the approach for car drivers coming from the North or West of the City. Those coming from the Southside can just slip across the EastLink bridge outside the front door.

Gilead are a major Californian biopharmaceutical company which generated income of almost $22.5 billion in 2019. The company focusses mainly on anti-viral drugs. It is already a familiar name in Ireland as it has a big presence in Cork.

TIO are one of the most successful developers in Dublin Docklands. They have previously developed and sold the Grant Thornton HQ on City Quay, 5 Hanover Quay which is occupied by Aptiv and DocuSign, and the adjoining OPUS residential apartments at 6 Hanover Quay.

TIO have recently completed the striking new 76 Sir John Rogerson’s Quay office building which is attracting strong interest and are within months of completing the new residential scheme to its rear, The Benson Building, which has already been sold.

Joint agents Savills and JLL are seeking a rent of between €52.50 and €55.00 per sq ft for the remaining space in North Dock Two.