Marlet Property Group and M&G Investments have appointed Walls Construction as the lead contractor on the €100m development of its Charlemont Exchange building close to CIF Headquarters on Grand Canal.
The project will create 100 construction jobs during the redevelopment of the site, which was bought by Irish property group Marlet in March 2017 for €45 million.
Due for completion Q2, 2018
The office block was constructed in 1998. The refurbishment, which is due to be completed in the second quarter of 2018, will include the addition of two new floors to the building, extending it to 8,279 sq m (89,118 sq ft) that will accommodate up to 1,200 office workers over seven floors. The property is being marketed to let by Savills.
Project targeting LEED Gold
The redevelopment, which is targeting LEED Gold, will include a light-filled double-height reception area as well as the creation of a terrace at sixth-floor level on the south and west elevations, re-glazing of the existing corner drum feature, and new entrance doors and windows.
The building will also have 86 car spaces and 90 bicycle spots. The building adjoins the Hilton Hotel and is beside the Charlemont stop on the green Luas line.
Commenting on the announcement Pat Crean of Marlet Property Group said, “We’re delighted to start the project this month and are very much looking forward to working with Walls Construction to bring it to fruition. There is no question that there is a much-needed demand for office space in Dublin and we hope that our investment in this project, and its quick turnaround and completion date (Q2 2018), will help to go some way to meeting the demands of businesses in Ireland.”
According to Andrew Cunningham, Head of Offices at Savills: “Almost all new and refurbished office space in the CBD which has completed in 2017 has already been taken up. Charlemont Exchange is set to deliver 89,118 sq ft of high-quality office accommodation in a mature CBD location at a time when stock levels are low and demand is strong. The design flexibility allows the space to split horizontally or vertically, which enables the building to cater for requirements from 5,000 sq ft to 89,118 sq ft. The building will offer occupiers an own door headquarter building with extensive frontage along the Grand Canal with a very impressive car parking ratio of one car per 1,050 sq ft – a level which cannot be achieved with new builds.”