Paddy Power Plc secure headquarters at Belfield Office Campus advised by Knight Frank Ireland
Date : 11 May 2011
In one of the biggest and most prestigious acquisitions in the Dublin office market in the last 2 years, Paddy Power Plc has chosen one of Dublin’s most successful office developments, the Belfield Office Campus, for the relocation of their headquarters.
The international bookmakers have leased a large amount of space with the acquisition of 3 entire interconnecting blocks in the prestigious Belfield Office Park development, advised by independent global property consultancy Knight Frank Ireland.
Currently based in Tallaght, they are moving to take advantage of relocating their headquarters at one of the city’s prime office locations at attractive rental terms.
The Belfield Office Campus space acquired for blue chip company Paddy Power amounts to a total of 120,000sq.ft (11,148sq.m) approximately across the 3 interconnecting blocks (blocks 1, 2 and 3), each of which are high specification 5-storey over ground floor office buildings.
The development also enjoys what is probably the highest car parking provision available anywhere in Dublin with a provision of 1.25sq.m.
“Whilst there were only a few options that filled Paddy Power’s requirements, the Belfield Office Campus won out strongly due to its excellent location, suitable floor plates and high car parking ratio”, said Knight Frank Ireland director and head of office agency, Mark Smyth, who handled the entire sourcing and acquisition of premises for Paddy Power.
The prime Dublin location of the Belfield 7-block development added to its attraction as a premium European HQ office choice. Situated off Beech Hill Road next to University College Dublin in Dublin 4, it is strategically located being only 1.7km away from Dublin south city and with excellent access to the N11 and within easy reach of Dublin Airport via the nearby M50 Sandyford interchange
Close to all major transport links, including the LUAS, and to the villages of Donnybrook, Ranelagh and Clonskeagh with the wide range of amenities for occupiers and staff, the Belfield Office Park’s premium office accommodation is fitted to the highest standards with an impressive finish throughout. Designed with modular contemporary office suites, it provides bright, open plan modern space that creates an excellent working environment.
The 3 interconnecting office blocks have been acquired for Paddy Power Plc on a 15-year lease with 5-year break options and a substantial rent free period. The asking rent was €17.50 per sq.ft per annum.
Further information:
Mark Smyth, director and head of office agency, Knight Frank Ireland
Sandra McDowell, McDowell & Associates PR
Notes to editors:
· Knight Frank Ireland was formerly the well-known Ganly Walters, which became part of the independent global property consultancy Knight Frank LLP in May 2007. A wholly Irish owned company, Knight Frank Ireland is the Irish representative of Knight Frank LLP, the biggest privately owned consultancy firm in the property business, operating from 207 offices in 43 countries, across six continents and employing more than 6,340 professionals who handle in excess of US$886 billion (£594 billion) worth of commercial, agricultural and residential real estate annually.
· Knight Frank Ireland’s turnover is in both country & residential real estate and commercial property, particularly in investment consultancy. The Irish company is headed up by Paul McDowell, managing director and Head of Investment. Consultant Robert Ganly and director Callum Bain head up its country & residential business. Knight Frank Ireland also has a commercial property, asset and facility management wing, which operates under Knight Frank Management Ireland. Please visit www.knightfrank.ie