Is Google Buying Yet More Dublin Office Real Estate?
Just days after Google paid €300M to acquire the 396K SF Bolands Quay, Dublin, could the tech giant be on the brink of assembling a much larger Dublin freehold portfolio?
Reports suggest they are in discussions to buy another 170K SF as their ever-growing Dublin footprint continues to expand.
The California-based business, part of the Alphabet empire, is in talks to acquire the 125K SF Treasury Buildings, Grand Canal Street, according to the Irish Independent. Talks about a €120M buy began in February 2017 and are still in progress, they report.
However, a deal at Treasury Buildings has been elusive. In November a Google buy was said to be imminent: eight months later nothing has been agreed.
Since November Google has been occupying floorspace at the nearby 51K SF Velasco Building, and Bolands Quay is just a short walk away.
Google's already substantial Dublin freehold portfolio includes its 200K SF Barrow Street European HQ acquired in 2011 for €100M, and the 210K SF Montevetro Building acquired for €99M in a deal with REO. In 2014 they bought the 96.5K SF Grand Mill Quay building for €65M.