Credit Suisse scores hit with Dublin office retrofit
Dockline, the 80,000 sq ft redeveloped office building in the heart of Dublin’s IFSC, has reached 95% occupancy and has been awarded LEED Platinum for its ESG credentials.
The property, held by a fund managed by Credit Suisse, cost €22m to redevelop and has set a new benchmark for green standards in the city’s business district.
Expanding software company Workday is the anchor tenant, with 53,000 sq ft, alongside fellow occupiers including engineering group Sandvik in 13,000 sq ft and Bank of Ireland on the ground floor.
Following its full refurbishment, the environmental and wellbeing features of the building now include:
- Highly efficient heating, ventilation, and air conditioning system
- Reduced car parking from 82 to less than 36 spaces
- Created 130 bike spaces
- Showers, lockers, well-equipped gym
- Super-efficient windows
- Retained façade and landscaped courtyard
- Feature reception with original artwork from National College of Ireland
- Transport connectivity, LUAS Red Line & Rail Station 3 min walk away
The successful re-use of the building, where quoting rents are now €54 per sq ft, has attracted other landlords in the city to consider similar projects for their own assets, according to the project team.
Oscar Castaneda, Asset Manager at Credit Suisse, said: “We managed to give new life to an older building, and put it in the best green standards that we possibly could. That was reflected in the successful leasing.”
Conor Fitzpatrick, Associate at letting agent JLL, added: “I think the lesson is that there’s plenty of buildings like this in Dublin, where if the right person like Oscar and Credit Suisse come along and look at it in the right way, there’s plenty of life left in them. Admittedly it’s not cheap or easy, but if it was cheap and easy everyone would do it. If you do it right, you can get the results that make it all worthwhile.”
LEED (Leadership in Energy and Environmental Design) platinum accreditation is awarded for scoring high marks for positively addressing carbon, energy, waste, water, transport, materials, health and indoor environmental quality.
The project team includes project manager and letting agent CBRE, letting agent JLL, and construction contractor Flynn.