Nationwide Building Society expands into Ireland and chooses award winning Spencer Dock as its location

Tuesday, 03 February 2009

Nationwide, the world’s largest building society is expanding its operations into the Republic of Ireland and has chosen to locate its new Irish headquarters in Number 3 Spencer Dock.  Nationwide is the UK’s third largest mortgage lender and second largest savings provider.  The building society has agreed a 25 year lease on 7,000 sq ft. of office accommodation, at penthouse level in Number 3 Spencer Dock, immediately adjacent to this 60,000 sq ft building recently occupied by The Central Bank and Financial Services Authority (CBFSAI).  The building was forward funded by Anglo Irish Assurance Company.

Welcoming the arrival of Nationwide Building Society to Spencer Dock, Mr. John Bruder, Managing Director, Treasury Holdings Ireland said, “Spencer Dock is Dublin’s leading new city centre space.  The dynamic new quarter in Dublin’s docklands brings together the highest quality commercial, retail and residential offering on the riverside location.  The quality of the occupiers that we have here is a testament to this.  With PwC, Fortis Bank and more recently The Central Bank and Financial Services Authority (CBFSAI) all choosing Spencer Dock as their headquarters location, Spencer Dock was an obvious choice for Nationwide Building Society.”  This is a great vote of confidence in Spencer Dock and the Irish Financial Sector, particularly in these challenging times.

Carl Gandy of Nationwide Building Society said, “We are very excited about our expansion strategy in Ireland and Spencer Dock is an ideal location for our headquarters.  It’s a modern space in a growing area which offers high quality amenities and is highly accessible through its rail, Luas and river connectivity.”
 
Nick Coveney of Colliers Jackson Stops, who advised Nationwide stated “Nationwide’s move to Dublin is great news for the office market.  With over 160 years of expertise and experience in the financial services sector, its decision to enter the Republic of Ireland, is a significant boost in confidence, in what are challenging times. The building society’s strategy is to take a long term view of the market.  Their commitment to Spencer Dock reflects this.”

Advisor to Spencer Dock, Jim O’Reilly from HT Meagher O’Reilly, said “Despite a challenging market place, transactions are still happening. Whilst there is no doubt that we are encountering tough conditions we are confident that prime office developments such as Spencer Dock will continue to attract tenants.  Securing the Central Bank and Financial Services Authority (CBFSAI) and now Nationwide within a matter of months, is an example of this.”

On over 20 hectares of land, Spencer Dock provides a vibrant, modern and sustainable working environment, meeting the very high standards expected from occupiers.   Spencer Dock is also the location of the high profile Convention Centre Dublin which will attract major international conferences and tens of thousands of delegates to the city.

Spencer Dock is a centrally connected location with its own dedicated mainline railway station. It will also have a new Luas station and the Samuel Beckett Bridge which will cross the River Liffey will provide a strategic link between the north and south docklands.

Limited opportunities remain available within Spencer Dock at a quoting rent of €532.82 per sq.m. (€49.50 per sq.ft.).  For further details in relation to 3 Spencer Dock, please contact HT Meagher O’Reilly on 634 2466.