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ESB exchange on landmark office development in Dublin

Written by Robert McHugh, on 13th Nov 2020. Posted in Ireland

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ESB yesterday confirmed that Amundi Real Estate, a French Asset Manager, has successfully exchanged on Fitzwilliam 28.

Located between Merrion & Fitzwilliam Squares, once complete the property will comprise c. 12,600 sq m of prime Grade-A office accommodation over 8 floors.

Currently in the final stages of construction, Fitzwilliam 28 has been entirely pre-let to Slack Technologies upon completion of the building. The global tech giant is moving out of its current property on Hatch Street and into Fitzwilliam 28, which will act as their new EMEA headquarters.

ESB is developing the asset alongside its own headquarters at Fitzwilliam 27, which is also under development. On completion, the acquisition will represent Amundi Real Estate’s first deal in the Irish market in a bid to expand the presence of their flagship fund in key European jurisdictions.

Savills and Bannon advised ESB on this transaction. Knight Frank advised Amundi Real Estate.

Speaking this week, Director of Investments at Savills, Fergus O’Farrell said, "The quality of the asset was reflected in the strong demand for the investment. This investment by Amundi Real Estate is further endorsement of Dublin as location for international investment."

Source: www.businessworld.ie 

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