Tuesday 11 December 2018

U+I and Colony get green light for office block plan

Upgrade: The redevelopment of Carrisbrook House in Dublin 4 is due to get underway in early spring 2019. Photo: Martin Nolan
Upgrade: The redevelopment of Carrisbrook House in Dublin 4 is due to get underway in early spring 2019. Photo: Martin Nolan
Ronald Quinlan

Ronald Quinlan

A Ballsbridge office block acquired for €46m in 2007 by developers Bernard McNamara, Jeremiah O'Reilly and the late David Courtney is set to be transformed in the coming months following approval from An Bord Pleanála of a plan by its new owners to refurbish and extend it.

Joint venture partners, U+I and Colony Capital, said they would bring the 1960s Carrisbrook House, which they acquired for €23.5m in 2016, up to Grade 'A' modern office standards.

A total of 25,467 sq ft of new office space will be added in the course of construction bringing the building's overall area to 52,000 sq ft.

The redevelopment will also see the addition of a 1,442 sq ft café on the ground floor and a rooftop terrace.

Construction at the property, which is best known as the home of the Israeli embassy in Dublin is due to commence in early spring 2019.

U+I recently completed the full refurbishment of the 69,000 sq ft Donnybrook House in Dublin 4, while a further 73,000 sq ft of office redevelopment is ongoing at Ballymoss House in the Sandyford Business District in south county Dublin.

Work on the building, which is being rebranded as 'The Hive', is scheduled for completion in mid-2019.

Between them, U+I's three developments will see approximately 200,000 sq ft of office space delivered to the Dublin market.

Arlene Van Bosch, U+I's development director for Dublin, said: "We recognised the potential of Carrisbrook House when we acquired the site in 2016 and we are delighted to see the planning process move towards a positive conclusion."

Indo Business

Business Newsletter

Read the leading stories from the world of Business.

Also in Business