Dublin-based developer Aldgate Developments has secured its seventh tenant at its Termini Building at Sandyford in south Dublin. John Paul Construction has signed a 12-year lease for its new corporate headquarters and will occupy 20,000sq ft of space on the fifth floor of the LEED Gold-rated office scheme. While the rent has not been disclosed The Irish Times understands the company has agreed to pay close to the quoting rent of €35 per sq ft.
John Paul joins a number of other leading corporates who have chosen to locate their operations at Termini. The development’s tenant line-up includes San Diego- based S&P 500 component company and NYSE-listed ResMed inc; BNP Paribas Bank; Jacobs Solutions Inc, another S&P 500 component company with 60,000 employees worldwide; Ireland’s largest hotel operator the Dalata Hotel Group; fast growing multinational cybersecurity company Integrity 360; and RBK Chartered Accountants.
Developed speculatively, Termini was completed at the height of the Covid-19 pandemic in December 2020. While Aldgate’s delivery of the building coincided with what is widely acknowledged to have been the lowest point in decades for the Dublin office market, the developer managed to secure both BNP Paribas Bank and ResMed as tenants within months.
Located immediately across the road from both the Sandyford and Stillorgan stops of the Luas green line, Termini comprises 224,000sq ft of A3 Ber-rated, LEED Gold V4-accredited space. Designed by Reddy Architecture & Urbanism, the building has efficient floor plates which typically extend to 40,000sq ft, 3m full floor-to-ceiling glazing, a ground-floor wellness suite, an in-house food and beverage station at ground-floor level, 215 bike spaces, and hotel standard end-of-trip shower and changing rooms.
While Aldgate Developments is aiming to deliver a number of other projects in the Sandyford Business District, the company, which is led by Niall, Paul and Dave Molloy along with Oisin Quinn and Mark Kearney, is arguably best known for its development of several large office buildings in the City of London. The company’s schemes include Aldgate Tower, which houses the London headquarters of multinationals such as Uber Technologies, Groupon and Aecom, and also One Braham, which became the BT Group’s new global corporate headquarters when it chose to relocate its offices from beside St Paul’s Cathedral, where it had been based for 125 years.
Commenting on his company’s decision to locate at Termini in Sandyford, Liam Kenny, managing director of John Paul Construction, said: “The Termini is in a great location, meets our sustainability requirements through its LEED Gold rating, and allows us to create a modern headquarters and collaborative work environment as we continue to expand our construction offering across different sectors and geographies in Ireland, the UK and Europe. Moving to Termini holds special relevance for us in 2024 as the business celebrates 75 years in business having been originally founded in 1949.”
Paul Molloy, co-owner at Aldgate Developments, said: “We are delighted to announce the completion of another lease to a top-tier company such as John Paul. This latest deal, which is our seventh in the building, shows that there is still a clear underlying demand for well-connected and high-quality office buildings in the suburbs of Dublin.”
