Union Investment Adds 3 New Tenants To Grand Parade Office
German investor Union Investment has secured three new occupiers for Irish Nationwide Building Society’s former headquarters following redevelopment of the scheme, an Easter boost for Dublin’s office occupier market.
FFH Management Services, a global services provider within the Fairfax Financial Holdings Group, has taken the fourth floor, extending to a net internal area of 8,300 SF on a new 15-year lease. FFH was represented in the negotiations by Elliott & FitzGerald.
Global management consultant McKinsey & Company has taken a lease of circa 5K SF on a 10-year term on the fifth floor. McKinsey was represented by CBRE.
Meanwhile, KDB Ireland has taken a lease on the penthouse of the front building, extending to an NIA area of 3,400 SF on a 10-year term. KDB was represented by Avison Young.
Designed by Henry J Lyons Architects, the 106K SF Two Grand Parade is located by the Grand Canal and is certified LEED Platinum and has an A3 building energy rating from the Sustainable Energy Authority of Ireland. It recently achieved practical completion and comprises two blocks of eight and five storeys, respectively, with a triple-height atrium linking the original former Irish Nationwide Building Society headquarters building with the new office block.
The three companies join existing occupiers Element Fleet Management and Clover Aviation at Two Grand Parade. A range of office spaces at circa 5K SF to 70K SF remain available at the scheme through joint letting agents CBRE and Cushman & Wakefield.
Late last year, Union Investment took ownership of the five-block residential scheme Newtown Gardens, located in Dublin suburb Blackrock, within its open-ended real estate fund UniImmo: Deutschland after entering into an agreement to purchase the development in 2022 from Glenveagh Properties.
Union Investment entered the Irish residential market in 2021 and now owns three residential complexes with approximately 700 apartments, all located in Greater Dublin.
It also owns a logistics centre in Newbridge, County Kildare, let to retailer Primark and the Hanover Quay office scheme in Dublin 2.
