Vertium, a new office building in Dublin 4 set for completion in 2017, will accommodate up to 2,000 workers.
Construction is already well underway, with the basement fully excavated and the main structure now rising.
It will be the first major CBD office development since the economic downturn, delivering new office space to the highest international standard.
The project is the result of a collaboration between three of Europe’s leading property companies – Union Investment, U+I and Ronan Group – who have united to deliver this pioneering development situated in the heart of Dublin’s CBD.
The building will span almost 100 metres on Burlington Road.
Roland O’Connell, chairman of Savills and Declan O’Reilly, director of Knight Frank made a joint statement: “It has been well documented that there is simply not enough office space to meet the demand of occupiers in Dublin’s central business district. Major new office schemes such as the Vertium building are crucial in ensuring Dublin remains a competitive city when it comes to attracting foreign direct investment. The level of interest, best expressed by occupiers already, is very encouraging, prompted by the fact that there is very little new stock that can be delivered within the next 15 to 18 months in Dublin.”
Shane Whelan, development director, Ronan Group, commented: “Ronan Group is proud to deliver another best in class office building in a proven central Dublin location where it has previously delivered such marquee buildings as Connaught House. In conjunction with our development partner U&I along with Union Investments, the delivery of a substantial building offering large flexible floor plates will be a timely boost for the office market.”
Matthew Weiner, CEO, U+I added: “Vertium represents not only a significant project for U+I but also for the commercial property landscape in Dublin. We strive to bring added value to the communities in which we operate, giving old or underused sites a new lease of life and our activities here will help to create a new commercial hub for Dublin 4. We are delighted to have the opportunity to work with Union Investments and Ronan Group and to continue our ongoing investment in Dublin.”