PricewaterhouseCoopers, a Receiver appointed by the National Asset Management Agency, has unveiled a planning application for an €87 mln Grade A office development on North Wall Quay in the Dublin Docklands.
A planning application, funded by NAMA, has been submitted for a seven to nine storey block containing office space of over 35,303 m2 (380,000 ft2), which will be capable of accommodating up to 4,000 office workers on completion.
PwC have commissioned Dublin architects ABK to design the building, with DTZ Sherry FitzGerald set to act as agents for the proposed development.
NAMA chief executive Brendan McDonagh said: “This proposed planning submission is for a development that will be a key addition to NAMA’s plan to make the Dublin Docklands a better place to invest, create jobs or find a home. It is another unique development with fantastic panoramic views of Dublin.
“NAMA is making real progress in enhancing the Docklands by delivering high-quality offices, homes and retail and cultural space and in particular revitalising the North Docks.”
Ronan Corbett, head of offices at DTZ Sherry FitzGerald said: “The delivery of such a significant amount of prime water-fronting space is exactly what Dublin city requires as the acute shortage of offices looms ever larger. We believe this development will appeal to a wide array of occupiers.”
This latest application follows recent proposals submitted to Dublin City Council by NAMA-appointed Receivers for Ireland’s tallest commercial office building, known as Exo, and the single largest student accommodation block in Ireland on Mayor Street in addition to a strategic north-south street linking North Wall Quay and Sheriff Street, a major piece of urban infrastructure.
Additionally, US investment firm Kennedy Wilson has recently been given approval for a huge apartment and office development in the Dublin docklands also in partnership with NAMA. Earlier this month it was also revealed leading property developer Paddy McKillen was seeking planning permission for a new 150-bedroom hotel at a former warehouse at North Wall Quay, purchased from NAMA. More than €10 mln has reportedly been allocated to adding a further four floors to the three-storey building to enable it accommodate about 150 bedrooms.
These important developments are expected to anchor this part of the North Quays and establish it as the gateway to the city. The North Docks has quickly become a location of choice for major office occupiers in recent times with organisations such as the Central Bank and the NTMA both choosing it as a location for their new respective headquarters. NAMA, through debtors, receivers and joint venture partners, has an interest in 14 major sites in the Docklands SDZ which total 16.74 hectares (41.25 acres, representing 75pc of all undeveloped land in the SDZ).
Source: DTZ
