Irish Law Firm Pre-Let Space at ‘The Exchange’ Building

27 September 2017

IPUT plc announces that law firm, Ronan Daly Jermyn, will join the Food Safety Authority of Ireland at ‘The Exchange’ in Dublin’s International Financial Services Centre (‘IFSC) when construction works complete in October. ‘The Exchange’, which is being developed by The Cosgrave Property Group in partnership with IPUT plc, will be the first new office development built within Dublin’s original IFSC since 2003.

In June, the Food Safety Authority of Ireland were announced as the first tenant to take space at The Exchange – agreeing a deal to take 19,041 sq. ft. across the first floor. A deal has now been concluded with Ronan Daly Jermyn to pre-let 6,781 square feet of space on the ground floor of the six-storey 105,000 square foot office building. Ronan Daly Jermyn are entering a 20 year lease, which includes a break option after 10 years, at a rent of €50 per square foot.

Named 2017 Law Firm of the Year at the Irish Law Awards, Ronan Daly Jermyn is a top 10 Irish law firm, with offices in Cork, Dublin, Galway and London, and a staff of more than 230.

Commenting on behalf of IPUT plc which is forward-funding the development of ‘The Exchange’, Head of Investment Michael Clarke said:

“The leasing of The Exchange is progressing very well and we are pleased to welcome another top tier Irish Law Firm to the IPUT portfolio”

This is an exciting time for Ronan Daly Jermyn” said Richard Martin, Managing Partner of Ronan Daly Jermyn. “The new, larger space affords the firm further facilities for growth as the firm continues to expand its offering across its offices in Dublin, Cork and Galway.” He continued “we were fortunate to find such an exceptional space right at the heart of our preferred location. This brand new building will provide our people, and our clients, with a bespoke, state of the art space. It brings the total square footage occupied by Ronan Daly Jermyn across its three offices to over 40,000 sq ft from which the Ronan Daly Jermyn team serves a wide range of national and multinational clients.”

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.

Joint agents Savills and JLL continue to market the remaining space at ‘The Exchange’ at a rate of €52.50 per square foot. Upon completion in October of this year, ‘The Exchange’ will provide accommodation for up to 1,200 employees.

 
 

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Andrew Cunningham

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