Construction BUSINESS

Dublin’s tallest office building, The Exo, will stand at 73m high and could accommodate up to 2,000 office workers. Located at Point Square in Dublin’s Dockland’s, it was announced this week that 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. 350 jobs are expected to be created during the construction phase which will take approximately 24 months and cost €70 million.

Designed by Shay Cleary Architects, The Exo responds to the design brief set out in the SDZ Planning Scheme and reflects the importance of the 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.

According to a recent report from Savills, pre-lets accounted for 300,000 square feet (44%) of all the Dublin office space leased in the fourth quarter 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 generous car parking facilities are taken into account.

Commenting on the new development, Roland O’Connell of Savills said, “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 added, “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.”