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 €70m.
According to a recent report from Savills, pre-lets accounted for 300,000 ft² (44%) of all the Dublin office space leased in Q4 2016. The joint agents point out that the quoting rent of €47.50 per ft² is exceptionally competitive for the North Docks especially when the exceptional car parking facilities are taken into account.
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.”