An Post is to lease 77,300 sq. ft across five floors at the EXO building in Dublin’s north docklands.

The largest office letting in Ireland of 2022 thus far was announced by joint leasing agents Savills and CBRE on behalf of the NAMA receiver, Stephen Tennant of Grant Thornton.

Taking its name from its large-scale exoskeleton steel structure, the EXO (pictured) stands at 17 stories in height and is raised at ground level by approximately 8 metres.

When complete, the overall development will comprise workspace for in excess of 1,950 people, who can avail of the 1,000 sq.m. roof garden. This will be complemented by an adjacent 10.5m high cubic glazed bar and restaurant.

The letting agents say that 70% of the building – due for completion at the end of March – is now leased or reserved, with a separate deal for 35,000 sq. ft. agreed with a leading Irish fintech company. Both deals have been agreed on a 15-year term.

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Ned Truman, managing director at SW3, said: “We believe that by An Post choosing this iconic building it is a testament to the quality of the design and sustainability credentials that occupiers require in their workspace to attract and retain talent.”

James Brodie of Tristan Capital Partners added: “We are continuing to see a flight to quality in the office market with occupiers placing enhanced value of the ‘health’ of a building through recognised ESG certifications.”

Shane Duffy at Savills said the Dublin office market has “reignited”, citing recent activity such as  the leasing of 220,000 sq. ft to TikTok at the Sorting Office and 280,000 sq. ft to KPMG at Harcourt Square.   

“With a further 1 million sq. ft. of space reserved, there is a positive headwind for the Dublin office market going into 2022,” Duffy stated.

An Post was advised by Ronan Corbitt of Cushman & Wakefield and the landlord by Shane Duffy of Savills.

Meanwhile, Hibernia REIT plc has exchanged contracts to sell its Forum building in the IFSC to a company controlled by Spear Street Capital for €30.8m.

The Forum is situated on Commons Street and comprises 47,000 sq. ft. of office accommodation over two floors, above a four-storey car park with 370 spaces.  Built in 2003, the offices  are currently vacant.