Friday 22 November 2019

Smartbox is latest firm to seek bigger Dublin offices

Smartbox looked at space in the Irish Life Centre on Abbey Street in Dublin
Smartbox looked at space in the Irish Life Centre on Abbey Street in Dublin

Peter Flanagan

French gift voucher and rewards firm Smartbox is seeking to sharply increase the size of its offices in Dublin, in a move which could pave the way for a doubling of its workforce here.

The IDA-client firm currently occupies about 10,000 sq ft at Block E of the Georges Quay development on Townsend Street, but is understood to be on the market for a 20,000 sq ft office space.

That amount of space would allow it to double its workforce to close to 300.

The firm, which set up here in 2012 is on a lease expiring in 2017 at its current location.

Smartbox is known to have viewed space in the Irish Life Centre on Abbey Street in the north city centre but did not go ahead with a deal for that space.

Smartbox currently employs close jsut over 1,000 people worldwide and offers what it describes as "high quality gift boxes containing a directory of amenities and a voucher enabling the customer to choose between hundreds of selected experiences".

Each gift box typically offers between forty and two thousand options depending on activity choice or theme such as golf or spa weekends.

Most of the jobs in Dublin are for IT infrastructure, software development, supply chain management, digital, B2B, project management and financial management operations.

With office rents in central Dublin now now north of €50 per sq ft, any deal Smartbox does will likely be at the top end of the market as it currently stands.

Smartbox is the latest IDA-client firm to seek more space in Dublin.

AirBnB's on again, off again, deal to take Facebook's former offices on Hanover Quay has now been signed.

The accomadation broker is currently based in the Watermarque Building in Ringsend, but has already outgrown the three floors it has there.

It also a sign of just how active the Dublin market remains, even as the office shortage forces towards record levels.

Experts now believe the all time record of €65 per sq ft will likely be overtaken before the end of this year.

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