Waystone, a leading institutional provider of services to the asset management industry, is set to expand its Irish operations further with a planned move to new headquarter offices in Ballsbridge, Dublin 4.
The company has signed a 20-year lease to take 52,000sq ft and 12 car spaces at 35 Shelbourne Road, the landmark scheme developed by David Daly's October Investments on the site of the former IPC building.
While the rental level has not been disclosed, The Irish Times understands Waystone has agreed to pay in excess of €60 per sq ft, following an initial rent-free period, to occupy the first to fourth floors at the building. The fifth and sixth floors meanwhile are set to serve as the new Dublin headquarters of online takeaway delivery giant, Just Eat, following the completion of their fit-out at the end of April.
The signing of the Shelbourne Road lease marks an important milestone for Waystone, coming as it does just two weeks on from the announcement of its proposed acquisition of global fund administration and fiduciary services provider, the Centaur Group. Waystone had already acquired another leading provider of services to the asset management industry, KB Associates (KBA), in January of this year.
While its latest agreements with Centaur and KBA bring Waystone’s Irish-based headcount to 250 staff distributed across offices in Dublin, Cashel and Maynooth, the company has plans to increase that number to close to 500 by the end of this year.
Commenting on Waystone's decision to locate its new Dublin headquarters at their latest office scheme, Paul and David Daly of October Investments said: "We are pleased to welcome Waystone to 35 Shelbourne Road. This represents further confirmation that Ballsbridge is established as a leading European commercial hub."
Karl Byrne of Cushman & Wakefield acted on behalf of October Investments, while Dan Shannon of Knight Frank acted on behalf of Waystone.
Designed by architects, RKD, 35 Shelbourne Road comprises 87,500sq ft of Grade A office accommodation in total and a 4,520sq ft ground-floor retail unit suited to several uses. The development has leading sustainability credentials, including LEED gold and Wired score Platinum certifications along with nearly zero energy building (NZEB) compliance. The building also offers best-in-class end-of-trip facilities at basement level, along with 24 car spaces, secure bike parking, and electric vehicle charging points.
Letting agents Cushman & Wakefield are currently marketing the seventh floor of the building. which comprises 4,768sq ft of office space, with a 3,000sq ft wrap-around terrace and uninterrupted views to the south. A ground-floor office suite of 2,600sq ft is also available for immediate occupation.
Outside of its development of 35 Shelbourne Road, October Investments owns the Pembroke Road headquarter buildings of both the Jurys Inns Group and The Doyle Collection, and a fully-let portfolio of 70 apartments and penthouses.
More recently the developer secured Bord Bia as tenant for 140 Pembroke Road, the bespoke 25,000sq ft office building it delivered on the site once occupied by Franklin House.
The Dalys' wider Dublin property portfolio is substantial and includes Airside Retail Park and Airside Office and Motor Park in Swords, as well as landmark properties on St Stephen's Green and Fitzwilliam Square.
