US technology giant Workday has formally signed a deal to locate its new European headquarters at College Square, the landmark office scheme developed by Pat Crean’s Marlet Property Group in Dublin city centre.
The agreement on the new long-term lease was completed last night, and will see Workday occupy some 38,648 sq m (416,000 sq ft) of the office space at College Square. The company’s accommodation represents the entirety of College Square’s “super-prime” office space and is the equivalent of five and a half football pitches.
The College Square deal is the largest single office letting to have taken place in the European office market since the onset of the Covid-19 pandemic in early 2020. The US enterprise technology giant’s decision to base its operations there was first revealed by The Irish Times in August of last year.
News of the transaction’s completion will be seen as a significant vote of confidence in the Dublin office market, coming as it does at a time of renewed economic turmoil globally.
Workday selected College Square after abandoning a plan to build its new Dublin base in Grangegorman early last year.
Developed by Marlet and its partner, M&G Investments, on sites occupied formerly by Apollo House and the neighbouring College House, College Square is a major mixed-use scheme comprising a total of 50,170 sq m (540,000 sq ft) of LEED Platinum office accommodation and 1,580 sq m (17,000 sq ft) of retail space distributed over 10 floors.
The development has an overall height of 22 storeys owing to the inclusion of 58 high-end apartments on 12 floors above the office element of the scheme.
Commenting on her company’s decision to locate at College Square, Workday’s vice-president of real estate, Assal Yavari said: “Dublin is Workday’s headquarters in the EMEA region and this move to College Square signifies our commitment to further investment and growth in the country. We’re excited to bring our talented Dublin teams together under one roof where we will drive AI innovation, deepen our engagement within the Dublin technology community and grow our European presence.”
Pat Crean, chief executive of Marlet Property Group, said: “We are excited to welcome Workday to College Square, marking a significant milestone for Dublin’s office market.”
Martin Towns, deputy global head of M&G real estate, said: “College Square exemplifies our global strategy for the office sector, of having state-of-the art buildings in desirable locations – such as the leading business districts within London, Paris and Seoul to attract blue-chip companies and meet their occupational needs.
“Workday’s letting is a significant vote of confidence in the enduring appeal of Dublin as Europe’s leading destination for global tech businesses.”
