Jepview Limited, a Denis O'Brien company, is set to undertake an extensive redevelopment of Malt House South, a waterside building overlooking Grand Canal Dock, in Dublin's south docklands.
Four new floors will be added on top of a stone building which was originally constructed by the Guinness family as a grain store in the mid-1800s.
Agent Knight Frank is quoting a rent of €67.50 per sq ft and €4,500 per car parking space, per annum for the new offices which will extend to about 30,000 sq ft. It is expected to be ready for occupation in about 15 months.
Those rents compare with headline rents of €59 per sq ft which Hibernia REIT recently secured at nearby 2WML.
On the other hand, the higher Malt House rents can be justified by factors including waterside location and its distinctive, high-profile appearance.