Johnny Ronan to begin work on new Facebook HQ
Developer Johnny Ronan is expected to kick-start the development of Facebook's new EMEA headquarters on the site of the AIB Bank Centre in Ballsbridge within weeks.
The commencement of works on the 30,900 sq m (333,000 sq ft) Fibonacci Square scheme by Ronan's company, RGRE, will represent the first step in the delivery of a wider 65,000 sq m (700,000 sq ft) campus on the AIB site, capable of accommodating 5,000 employees. The remainder of the Dublin 4 site is divided into two sections, which are owned respectively by the Serpentine Consortium and a European syndicate assembled by Davy.
While Facebook's move to Ballsbridge has been the subject of complex negotiations for over a year, the Irish Independent has learned that heads of terms have now been agreed between the various parties. Efforts to contact Facebook and RGRE for comment were unsuccessful.
AIB has been preparing for the redevelopment of its Bank Centre headquarters for some time. The State-owned bank has already secured new office accommodation for its corporate headquarters at No 10 Molesworth Street, and for its employees at locations around the capital including Heuston South Quarter (HSQ) in Kilmainham and Central Park in Leopardstown.
Earlier this week the Irish Independent revealed that RGRE and Colony Capital have secured 'Project Waterfront', the last remaining waterfront site in Dublin's north Docklands for a figure in the region of €180m. The holding comprises two adjacent sites and comes with planning permission for 420 apartments and 17,891 sq m (300,216 sq ft) of offices across four blocks.