Walls appointed to €100m Charlemont Exchange redevelopment

Marlet Property Group Ltd., in conjunction with M&G Investments, has appointed Walls Construction to carry out extensive redevelopment work on the Charlemont Exchange office building at Dublin’s Charlemont Place.

100 construction jobs, direct and indirect labour, are expected to be created during the project, which will see the addition of two new floors and extensive refurbishment throughout the building. Walls Construction commenced works in July 2017 with completion expected in Q2 2018.

The new Charlemont Exchange will extend to approximately 89,118 Sq. Ft. and will accommodate up to 1,200 office workers based on its design occupancy rate. The property is being marketed to let by Savills.

When complete, Charlemont Exchange will provide approx. 89,118 Sq. Ft of office space over 7 floors finished to an excellent standard. The redevelopment which is targeting LEED Gold, will also include a light filled double height reception along with the creation of a terrace at 6th floor level on the south and west elevations, re-glazing of the existing eye-catching corner drum feature, new entrance doors and windows. The building currently benefits from a generous car parking provision with 86 spaces and 90 cycle parking spaces. In addition there are generous tenant amenities in the building including ample shower and changing facilities, along with storage.

Charlemont Exchange occupies a commanding position on the corner of Charlemont Street and Charlemont Place which offers views of the Grand Canal area. It is a short distance from the Iveagh Gardens and just a 15 minute walk to Grafton Street and St. Stephen’s Green, Dublin’s main shopping and commercial district.

Commenting on the announcement Pat Crean of Marlet Property Group said: “We’re delighted to start the project this month and are very much looking forward to working with Walls Construction to bring it to fruition.  There is no question that there is a much needed demand for office space in Dublin and we hope that our investment in this project, and its quick turnaround and completion date (Q2 2018), will help to go some way to meeting the demands of businesses in Ireland ”.

The central location provides occupiers with access to all that Dublin has to offer. Whether it is a coffee overlooking the Grand Canal, a relaxing drink in one of the many traditional pubs, or dinner in one of Dublin’s most notable restaurants, the Charlemont district offers an abundance of existing, not promised, amenities in its immediate area. The building conveniently adjoins the Hilton Hotel and is within a short walk of other prominent Dublin Hotels such as the soon to be completed Dalata hotel. The capitals premier shopping district of Grafton Street is also within a short stroll. Staff can easily access all of these amenities by foot, bicycle, taxi or tram.

There are numerous well known occupiers in the immediate area including Ernst & Young, Dropbox Ireland and Arthur Cox Dublin.

According to Andrew Cunningham, Head of Offices at Savills: “Almost all new and refurbished office space in the CBD which has completed in 2017 has already been taken up.  Charlemont Exchange is set to deliver 89,118 sq. ft. of high quality office accommodation in a mature CBD location at a time when stock levels are low and demand is strong. The design flexibility allows the space to split horizontally or vertically which enables the building to cater for requirements from 5,000 sq. ft. to 89,118 sqft. The building will offer occupiers an own door headquarter building with extensive frontage along the Grand Canal with a very impressive car parking ratio of 1 car per 1,050 sq.ft – a level which cannot be achieved with new builds.”