The Irish Independent has today reported that Google has held informal talks with the owners of the Treasury Building on Dublin's Grand Canal Street with a view to making a formal offer for the property.
 
This comes just weeks after it was reported that Google plans to add 400 employees to its 6,100-strong Dublin workforce and is in talks to rent the newly-constructed Velasco building on Grand Canal Street.
 
According to the report, sources familiar with the detail of the talks, which are understood to have taken place over the last two months, said the web giant was prepared to pay up to €125m to buy the building which currently serves as the headquarters of the NTMA and a number of its subsidiaries including Nama.

While agents CBRE are already handling the sale of a 33.33% stake in the Treasury Building on behalf of Percy Nominees, it is understood Google has expressed its interest in buying the property in its entirety for up to €25m more than its overall estimated valuation of €100m. 
 
Percy Nominees bought its one-third-stake in the building when it was redeveloped in 1989 by Ambiorix, a company controlled by developer Johnny Ronan, Paddy McKillen's son, Paddy Jr and Mr McKillen's Co-Director, Liam Cunningham.

Mr Ronan and Mr McKillen's company continues to retain a 66.67% interest in the Treasury Building and its overall rent roll of €5.482m per annum.
 
The report states a spokeswoman for Google declined to comment when asked to confirm the detail of the company's recent discussions with the building's owners. Mr Ronan was unavailable for comment.
 
Source: www.businessworld.ie