Second Phase of Dublin Landings for Sale Guiding €100m - Construction Network Ireland - Construction Network Ireland

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Published in Commercial Property on 23/05/2018

Second Phase of Dublin Landings for Sale Guiding €100m


CNI Editor reports

Only months after selling the first of five office buildings under construction in the Dublin Docklands, Irish property company Ballymore and its Singapore partner Oxley are to launch a new marketing campaign today to enlist a buyer for the second phase of the development.

Having only recently sold No 1 Dublin Landings to the German pension fund, Triuva, for around €164m, Ballymore and Oxley are now offering No 2 Dublin Landings to the market through joint agents CBRE and Knight Frank for €98.8m.

Due for completion later this month, the building should prove attractive to investors, as it has already been pre-let to global co-working operator, WeWork.

Located next to the new headquarters of the Central Bank of Ireland and the new head office of the National Treasury Management Agency (NTMA) at North Wall Quay, the overall Dublin Landings development extends to 93,000 sq m (1,001,043 sq ft). In addition to No 1 & 2, a further three office blocks will be developed on the site providing a further 28,700 sq m of space. The construction of all three buildings is under way with a view to making them available for occupation in 2019.

All told, Dublin Landings will comprise 298 apartments, offices, restaurants, bars, retail, and landscaped gardens.

Some 6,000 people are expected to work and live at the docklands scheme once it is finished.