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New office construction gearing up

Property developer Johnny Ronan is gearing up to re-enter Dublin’s office construction market after agreeing to buy a key site beside the former Burlington Hotel along with a UK partner for €40.5 million. The site has full planning permission for a high density office block with a net floor area of 15,384sq m (166,668sq ft). The site is currently occupied by a 1980s office block which has been vacant since it was sold in 2007 by Allianz Insurance to developer Bernard McNamara for €105 million.

Johnny Ronan was responsible for the vast majority of the large- scale office projects in Dublin in recent years including the 700,000sq ft Central Park; the 100,000sq ft high rise Monte Vetro sold to Google; the 200,000sq ft Connaught House and Bank of Ireland HQ on Burlington Road and the 400,000sq ft PwC and Fortis blocks at Spencer Dock along with the adjoining National Convention Centre.

There has been no new office construction in the city for the last six years and the only two office blocks currently being developed in Dublin – at Canada House on St Stephen’s Green and the Veterinary College in Ballsbridge – are being built by telecoms billionaire Denis O’Brien and the Galway-born Comer brothers.

Story sourced from the Irish Times