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Google has just submitted a planning application for a 10-storey extension to the former Treasury building on Dublin’s Grand Canal Street in what is seen as a vote of confidence in offices as the main work centre

Google has just submitted a planning application for a 10-storey extension to the former Treasury building on Dublin’s Grand Canal Street in what is seen as a vote of confidence in offices as the main work centre

Google has just submitted a planning application for a 10-storey extension to the former Treasury building on Dublin’s Grand Canal Street in what is seen as a vote of confidence in offices as the main work centre

The company behind the Blanchardstown Corporate Park in Dublin has seen an increase in enquiries from prospective tenants as workers seek to move outside the city centre following the pandemic, according to accounts just filed for the business.

Existing clients at the park, which is close to the Blanchardstown Shopping Centre, include Blue Insurance, Nike, Puma, Bristol-Myers Squibb and Maersk.

The park is managed by developer Channor, which is owned by the Harrison family.

“The diversity of the group’s tenants means that the group’s rent roll has not been adversely impacted to date by Covid-19,” accounts for Channor’s holding company, Stempel, note.

“The group has benefited from an expressed desire among employees and employers to move out of the city centre as a result of the pandemic and there has been an uptake in enquiries for quality office accommodation in the properties owned by the group,” they add.

In February this year, Channor signed up US fintech firm BlueSnap as a tenant. The company is basing its European HQ at the Blanchardstown office park.

Stempel noted that the pandemic impacted some of its tenants and some rescheduled rent payments.

“The positive outcome is that all the affected tenants have now returned to their normal payment structure,” the accounts for 2019, which were signed off at the end of last month, note.

Stempel Holdings had been able to push through what it said were “substantial uplifts” in rents during 2019.

The group generated turnover of €13.3m in 2019 and an operating profit of €17.7m. That compared to €14.3m and €15.5m respectively during 2018. The group listed tangible assets of €124.3m at the end of 2019, up from €103.7m at the end of 2018.

Many firms intend to adopt hybrid working models once the pandemic has passed, with staff splitting time between working from home and the office.

Google has just submitted a planning application for a 10-storey extension to the former Treasury building on Dublin’s Grand Canal Street. It also wants to redevelop the existing premises in what is seen as a vote of confidence in offices as the main work centre, and in city-based working.


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