Aviation leasing giant weighs deal for new HQ at FitzWilliam 28

While the recent news of Slack Technologies’ decision to relocate its operations from its newly leased offices at Fitzwilliam 28 opened up a major gap in Dublin’s office market, all 135,617sq ft of the space left vacant by the company’s planned move looks set to be filled shortly.

Having engaged agent Cushman & Wakefield to secure an occupier for its Fitzwilliam Street offices on the basis of a lease assignment just four weeks ago, Slack’s new owner, US tech giant Salesforce, is understood to have received an approach from Savills on behalf of SMBC Aviation Capital for the entire building. While the talks are still at an early stage, should a deal be agreed between the parties, the IFSC-based aviation leasing specialist would take on the long-term lease Slack Technologies committed to in early 2020 at a rent of €7.7 million per annum.

Having been acquired subsequently for €27.7 billion by Salesforce, the workplace collaboration specialist will now relocate its entire operations to Salesforce’s new European headquarters in the city’s north docklands instead.

Fitzwilliam 28 is one of two adjoining but independent blocks developed by the ESB. The sister block to 28, Fitzwilliam 27, is to be owner-occupied by the utilities provider.

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The Fitzwilliam 28 scheme is owned by Amundi Real Estate, a specialist subsidiary of Europe’s leading asset manager Amundi, a company with some €1.527 trillion in assets under management. Amundi acquired Fitzwilliam 28 for €180 million in November 2020.

Separately, The Irish Times understands that professional services consulting firm, Aon Ireland has agreed to pre-let about 35,000sq ft of office accommodation from Iput at Block B in the George’s Quay complex in Dublin city centre. While the deal will provide the company with sufficient space for over 300 workers, it will likely be a further two years before it occupies its new premises. Iput is set to carry out a full refurbishment of Aon’s new offices in the interim as part of its plans for the redevelopment of the five-storey building. Block B had been occupied in recent years by Ulster Bank as part of its wider headquarter operations at George’s Quay.

Iput secured planning permission in November 2020 to add two floors to the property, increasing its overall floor area from 5,220sq m (56,188sq ft) to 7,847sq m (84,464sq ft). The approved development also provides for the addition of a new facade to the building along with the development of a café facing on to Georges Quay at ground-floor level.

CBRE is understood to have acted for Aon Ireland in its negotiations with Iput.