Belfast Telegraph

Facebook HQ in Dublin hits market for £131m

By Peter Flanagan

Facebook's European headquarters in Dublin has been placed on the market with an asking price of €163.8m (£131m).

The price tag would make it the most expensive single office block to hit the market in the Republic since the days of the boom.

The social media giant moved into the building at Grand Canal Square earlier this year, in what is top of the line office accommodation in the Irish capital.

Agents CBRE and JLL have been named to act in the transaction.

The fact that the property now has a top-level tenant with global recognition is likely to help attract a range of international buyers.

It is thought that Facebook itself, which will not be affected by the sale, may bid for the office.

The block is being put on the market by Chartered Land, which developed Grand Canal Square several years ago.

The firm, headed by Joe O'Reilly, was behind a string of well-known developments including Dundrum Town Centre. The firm is known to be working with Nama to reduce its debts to the state bad bank.

The office spans 120,000 sq ft and is one of the most energy-efficient offices in the country.

Assuming the €163.8m asking price is achieved, it would make it easily the priciest single office block in the city since the Celtic Tiger days.

The asking price also demonstrates how far the office market in Dublin has come in the space of a year.

Belfast Telegraph