CAPITAL DOCK UNDER CONSTRUCTION 16 FEBRUARY 2017
The building was developed in a joint venture with the National Asset Management Agency (NAMA) on the site of the proposed U2 Tower. Concrete foundations as well as three floors below street level and one above level had been completed on the original development before it was cancelled [can anyone confirm this to be the case?].
In 2012, Kennedy Wilson acquired the site and development started at the end of 2014. In May 2017, they sold the 130,000 sq ft (12,000 m2) 200 Capital Dock building to JPMorgan on a forward funding sale agreement. In December 2017, Kennedy Wilson signed a 20-year lease with Indeed, to fully occupy buildings 100 and 300 Capital Dock.
There was a massive construction boom up until the recent health emergence and much office space was created. There was also a large number of student accommodation complexes and hotels under construction or planned. At one stage I counted 34 hotels and student complexes under construction within a ten minute walking distance of my apartment in Bolton Street.
Many are now worried that many of the projects underway will fail because of the impact of Covid-19 and the first indicator is that it has been reported in local that Google have cancelled their plan to rent space in Dublin for as many 2,000 workers, killing one of the capital’s biggest real-estate deals in recent years.
Last October, Google entered into talks to rent the state-of-the-art ‘Sorting Office’ in Dublin Docklands. The seven-storey high grade building on the site of the old An Post sorting office at Cardiff Lane was to be the future workplace of up to 2,000 of the firm’s employees.
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