The construction of Dublin’s tallest office building – ‘THE EXO’ at Point Square in Dublin’s Dockland’s – has moved a step closer.
The construction of Dublin’s tallest office building – ‘THE EXO’ at Point Square in Dublin’s Dockland’s – has moved a step closer.
Joint Receivers Stephen Tennant & Paul McCann of Grant Thornton have today, 4th May, announced that a tender has been issued for the appointment of a building contractor, and that Savills and CBRE have been instructed to seek pre-letting agreements with tenants.
At 73 metres high, THE EXO will be Dublin’s tallest commercial office building and could accommodate up to 2,000 office workers. 350 jobs are expected to be created during the construction phase which will take approximately 24 months at a cost of €70 million.
Stephen Tennant of Grant Thornton commented:
“We are delighted to get this project off the ground and look forward to seeing it through to completion. Our first priority is to secure a main building contractor who can deliver a quality scheme on-time and on-budget.”
Roland O’Connell of Savills commented:
‘’THE EXO will provide the most spectacular workspace in the city. Its accessibility is unrivalled with the Luas stopping outside and the Port Tunnel providing quick access to the M50 and a 15 minute trip to Dublin Airport – surely one of the quickest airport links in the world.’’
Mark Smyth of CBRE commented:
“Since planning approval was granted for the development of THE EXO, we have had numerous enquiries from both local and international office occupiers – all interested in being part of an area of Dublin that has been completely rejuvenated. Today’s announcement from the receivers that they intend to press on with development is great news and our focus now is firmly on securing pre-letting agreements with tenants.”
According to a recent report from Savills, pre-lets accounted for 300,000 square feet (44%) of all the Dublin office space leased in Q4 2016. The joint agents point out that the quoting rent of €47.50 per square foot is exceptionally competitive for the North Docks especially when the exceptional car parking facilities are taken into account.
Planning permission for the 170,000 square foot (net lettable) LEED Gold office building was approved in March 2016, less than 6 months after the submission was submitted to Dublin City Council. The speed at which planning approval was achieved is seen by many in the property industry as evidence that the designation of the area as a Strategic Development Zone (SDZ) has worked. A ‘SDZ’ enables the fast track delivery of new residential and non-residential development in locations of strategic importance in the Greater Dublin Area.
The Point Square (formerly Point Village) is one of only a handful of locations where taller buildings are permitted in Dublin. The Exo, which is designed by Irish architectural practice Shay Cleary Architects, responds to the design brief set out in the SDZ Planning Scheme and reflects the importance of this site within the wider Docklands.
The local area has benefitted from Dublin’s economic recovery in recent years, with demand for commercial and retail space growing rapidly.
In 2014, Yahoo moved its EMEA HQ to The Point Square which accommodates over 375 employees. The 3Arena, which attracts concert revellers, business travellers, and leisure tourists – has ensured The Gibson Hotel remains one of the most popular in the City, and the Odeon Cinema, which opened in 2012, continues to grow audience numbers. In addition, Starbucks, Eddie Rockets, Ruby’s Bar & Grill and Bunzl, have all either opened or are about to open new stores in The Point Square Shopping Centre.
A video has been created to give potential occupiers a closer look at the scale of the building. It can be viewed here: