WeWork snaps up Central Bank space

The former Central Bank headquarters in Dame Street, Dublin

John Mulligan Twitter Email

June 18 2018 02:30 AM

Shared workspace provider WeWork is to lease all the office space at the former Central Bank at Dublin's Dame Street.

It will occupy eight floors at the building, which is being redeveloped by US property giant Hines and Hong Kong company Peterson at a cost of up to €100m. The iconic property was acquired for €67m as the Central Bank moved to new premises in Dublin's docklands.

The former Central Bank premises - now known as Central Plaza - will have a total of 12,500sqm (134,000sqft) of offices, as well as fashion, food and beverage outlets.

Plans for the redevelopment were approved by An Bord Pleanála last week.

Central Plaza is part of an overall masterplan that includes adjoining properties at 6-8 College Green, 9 College Green and 2 Central Plaza, comprising the former annex and commercial buildings on Dame Street.

The existing plaza will also be expanded to create a new streetscape towards College Green and along Fownes Street and Cope Street.

Brian Moran, senior managing director of Hines, said Central Plaza would accommodate more than 1,300 professional workers and create 300 full- and part-time retail and hospitality jobs.

New York-based WeWork provides shared workspaces at locations all over the world.

In April, it announced that it would lease almost 10,000sqm of space at 2 Dublin Landings, beside the new Central Bank building. It also has space at Iveagh Court in the capital, and at 1 George's Quay.

"Expanding our Dublin portfolio with a location like Central Plaza really proves our commitment and dedication to this city," said WeWork's executive vice president Patrick Nelson.