Friday 21 October 2016

Former HQ of Bord na Mona is set to be offered at €30m plus

Published 29/09/2016 | 02:30

Designed by Sam Stephenson, 76 Baggot Street is due to be put up for sale within weeks
Designed by Sam Stephenson, 76 Baggot Street is due to be put up for sale within weeks

The former Dublin city centre headquarters of Bord na Mona is expected to be put up for sale with a guide price in excess of €30m within the next number of weeks.

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The Irish Independent understands that agents Cushman & Wakefield will shortly be given a formal instruction to offer the building - which is located on the Western side of Lower Baggot Street near its junction with Baggot Street Bridge - to the market. The property is expected to be marketed by November.

Designed as the headquarters of Bord na Mona by the late Sam Stephenson, the building has seen a number of high-profile occupiers over the years, including the former Anglo Irish Bank and the mobile phone operator O2.

Described by the website Archiseek as being "unashamedly modern in what is still largely a Georgian streetscape", the glass-fronted building was commemorated on an Irish postage stamp in the 1980s.

Arranged over five floors, the 40,193 sq ft property recently underwent a refurbishment, giving it highly efficient, open plan, air-conditioned floor plates. The building is now fully let to US tech firm FitBit and Storyful.

In the case of Fitbit, the building serves as the technology firm's EMEA headquarters and houses its strategic business functions for the EMEA region - including senior management roles, sales, marketing, operations, finance and customer support staff.

News gatherer and content verifiers Storyful also use the building as their European headquarters.

The former Bord na Mona HQ is ideally positioned in the traditional heart of Dublin's main business district, but is also in close proximity to the South Docks area and Ballsbridge.

Google, LinkedIn, the IDA, Bank of Ireland and Bord Gáis are just some of the major occupiers within the property's immediate vicinity. Numerous Dublin Bus routes serve the area around Lower Baggot Street, including a number of routes that stop immediately outside No. 76. The Grand Canal Dart Station is a short walk away, with St Stephen's Green Luas station also in close proximity.

News of the impending sale of 76 Baggot Street comes as the October 19 deadline for best bids on the Sam Stephenson-designed Central Bank headquarters approaches. The iconic Tower on Dame Street is expected by selling agents Lisney to attract offers in the region of €65m.

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