Serviced office provider Us&Co is opening its first Dublin base at 5 School House Lane this October.

Located smack bang in the central business district between Kildare and Molesworth streets, the 16K SF block has been acquired by Us&Co’s parent company Artesian USCO from Kennedy Wilson for an undisclosed amount.

Kennedy Wilson spent €3.5M on upgrading and extending the property in 2017.

Now undergoing a fit-out by Us&Co, the building will have capacity for up to 270 desks between self-contained private offices, hot desks and coworking facilities. The ground floor will be made up of meeting rooms and a club space that will be available to hire for events, drinks receptions and parties.

Savills Ireland, which is working with Us&Co through its Workthere serviced office advisory arm, said two U.K. companies — an insurance firm and a management consultancy — have committed to taking a half floor each in the building, while there has been general interest from a range of other prospective tenants, including U.K. and American companies looking for a Dublin base.

Us&Co already has one serviced office space operating near Fenchurch Street in London with a second planned for Stratford.

The company is one of a rapidly growing number of serviced office and coworking operators setting up or taking additional space in Dublin. In its most recent office market report, CBRE said more than 15% of take-up in the city in the first half of 2018 — or 265K SF of the overall 1.76M SF transacted – was to coworking and flexible tenants. These included Iconic Offices, IWG, Pembroke Hall and WeWork.