Burlington Road in Dublin 4 will have a new six-storey office building in its streetscape in 2017, as plans were announced for the construction of ‘Vertium’. The 172,000 sq. ft building, which is due for completion in Q2 2017, will be the first major CBD (central business district) office development to come on stream since the economic downturn.

Joint letting agents Savills and Knight Frank have described Vertium as a “statement office development dedicated to creating a bright, inviting and energy efficient workspace”.

The project is the result of a collaboration between three property companies – Union Investment, U+I and Ronan Group. The development will include 1,800 square metres of landscaping, while the building itself will span almost 100 metres on Burlington Road, capable of accommodating up to 2,000 workers.

Roland O’Connell, chairman of Savills, and Declan O’Reilly, director of Knight Frank made a joint statement about the development, in which they said: “It has been well documented that there is simply not enough office space to meet the demand of occupiers in Dublin’s central business district.

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“Major new office schemes such as the Vertium building are crucial in ensuring Dublin remains a competitive city when it comes to attracting foreign direct investment.

“The level of interest, best expressed by occupiers already, is very encouraging, prompted by the fact that there is very little new stock that can be delivered within the next 15/18 months in Dublin."

Savills and Knight Frank are quoting a rent of in excess of €55 per square foot.