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.
Google are now also understood to be negotiating to acquire the 45K SF Sharp Building, Hogan Place, developed by McGarrell Reilly Group, The Irish Independent said.
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.
