‘The Exchange’ – First new office building within Dublin’s original IFSC since 2003 – to complete in October 2017

22 September 2016

The Cosgrave Property Group, in partnership with IPUT plc, will launch ‘The Exchange’, a new premium Grade A office building located at the heart of the original IFSC (Irish Financial Services Centre) within Dublin’s Central Business District, at an event in Dublin City Centre this evening. The Exchange will provide 105,000 sq ft (9,750 sq m) of office space over six floors. The building is being developed by the Cosgrave Property Group with funding provided by IPUT plc and John Sisk & Sons as the main contractor. When completed and available for letting in in October 2017, The Exchange will be the first new Grade A office building constructed within the original phase of Dublin’s IFSC since 2003.

Savills and JLL are seeking a new HQ occupier for either the entirety, or on a floor by floor basis for the building which will accommodate 1,200 people when complete. Up to 100 people will be employed on site during the peak of the construction.

Designed by KMD Architects, The Exchange is a 6-storey over basement building with an imposing projected glass and granite façade, full floor-to-ceiling glazing and a stunning full height central atrium pouring natural light to each of its six floors. Its upper floors will provide extensive views across the IFSC and the wider Dublin skyline. Floor plates of 19,000 sq ft have been designed for maximum efficiency and flexibility, creating workspace with A3 energy efficiency which can adjust and split efficiently from 4,415sqft responding to the changing needs of business.

The Exchange is centrally located on the Docklands Luas line and adjacent to the Citi Group building, just 50 metres from the CHQ Building and five minutes’ walk from Connolly Station. It is surrounded by many of the world’s leading financial services brands within the IFSC including KPMG, Wells Fargo, JP Morgan Chase, SIG and Zurich, PwC, Morgan Stanley, and BNY Mellon.

Its unrivalled connectivity to local, national and international transport nodes will create Ireland’s most connected new office building - LUAS, train, DART (Dublin Area Rapid Transport), bus and bike stations are all within a few minutes’ walk. Dublin Airport is approximately 25 minutes by road via the Dublin Port Tunnel.

Commenting, Peter Cosgrave of Cosgrave Property Group said: [“We are delighted to develop and deliver this grade A office building, built to LEED Gold standard, in the heart of the International Financial Services Centre. On its completion in October 2017, The Exchange will be one of the finest office buildings that Dublin has to offer, with a level of specification, finish and flexibility that will meet and exceed the exacting needs of global and domestic occupiers.”]

Commenting, Niall Gaffney, Chief Executive of IPUT plc commented: [“The original phase of the IFSC has matured well, with a vibrant mix of retail, leisure and residential uses which are attractive and complement its established global financial occupiers. We are excited that The Exchange is under construction and well on schedule to provide occupiers with new, flexible Grade A office accommodation in the heart of the IFSC for the first time in well over a decade.”]

Andrew Cunningham, Offices Director at joint letting agents, Savills Ireland, said: “Dublin is continuing to experience strong demand for high quality office accommodation from both domestic and international occupiers. The quality of the accommodation coming on stream at locations such as The Exchange is presenting a compelling offer and choice for businesses that are considering their options to expand or relocate to Dublin, particularly as the Brexit situation continues to unfold. However, the supply of Grade A space is likely to remain tight with estimates that 40.25% of all new or refurbished stock for delivery next year (2017) in the CBD is already committed.”

Deirdre Costello, Offices Director at joint letting agents JLL said: “At The Exchange incoming tenants will be able to benefit from large flexible workspace on offer together with the abundance of amenities and transport nodes on the doorstep. The building can cater for both medium and large occupiers with floor plates of approximately 19,000 sq ft which can accommodate up to 250 staff. Its striking design, full height central atrium, floor to ceiling glazing throughout, efficient floor plate configuration and shared amenity space at below ground level are likely to impress all occupiers.”

 
 

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