Business

Dublin's Bolands Quay development is sold to Google

THE Bolands Quay development project in Dublin, one of the largest urban regeneration projects to have been undertaken in the city centre in recent years, has been sold to Google.

The site received planning permission in July 2015 and, since then, Nama has provided funding for demolition and enabling works.

In December 2016, Nama committed to providing funding to Mark Reynolds of Savills for the construction of the scheme in one phase, and Google has now agreed to acquire the entire Bolands Quay campus.

Designed by Dublin architectural practice Burke Kennedy Doyle with engineering input from Arup, Bolands Quay will comprise 28,000 sq m of office space, 46 apartments, cafes and cultural space.

The development will include three new landmark buildings, one rising to 53 metres (173ft), another to 49 metres (161ft) and a third to 47.8 metres (157ft). BAM is the main contractor and the scheme is set for completion on a phased basis from the second quarter of next year.

Google will retain the office accommodation for its own use and will appoint a commercial letting agent to manage the letting of the remaining commercial premises and apartments.

Bolands Quay will be linked to Google's EMEA HQ on Barrow Street via walking routes through the site.

The development will also include a new pedestrian bridge and two new civic plazas with water frontage to Grand Canal Dock.

The historic buildings on the site, dating from the 1830s, will be sympathetically restored and their heritage preserved adding to the architectural uniqueness of the development.

Brendan McDonagh, chief executive of Nama, said: “We are pleased at the progress which has been made in developing this landmark site which will bring much-needed office, retail and residential accommodation to the city.

"The acquisition of Bolands Quay by Google is a significant vote of confidence in the Irish economy and in the future of its operations here and Nama is pleased to have been part of this successful outcome for all parties.”

Google has invested more than €1 billion in capital investment in Ireland since 2003 and earlier this month announced a €150 million extension to its data centre.

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