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Google has backed away from a plan to rent space on Dublin’s docks for about 2,000 workers, sidelining one of the city’s biggest real estate deals in recent years.
Google had been in talks to rent some 18,766 square meters of space in the Classification Office near the docks, adding to its variety of sites in the city.
“After much deliberation, Google decided not to proceed,” a company spokeswoman said in an email to questions from Bloomberg. The company did not say why it decided not to go ahead with the deal.
Designed by architects Henry J Lyons, the development is located at the corner of Cardiff Lane and Hanover Street East, opposite the Bord Gáis Energy Theater and in close proximity to the European headquarters of several global tech giants, including Google, Facebook, and Airbnb.
Google is a major player in the Dublin real estate scene, employing thousands of workers and occupying offices around the so-called Silicon Docks, with its European headquarters located on Barrow Street and the nearby Montevetro building.
The company plans to continue investing in its Irish operation. But the decision not to proceed with the new lease will be watched closely as investors weigh the impact of the coronavirus on the city.
Multinational tech companies like Twitter, Google and Facebook helped revive the country after the property collapse, while overseas cash was poured in to help build offices and apartments. In the second quarter of this year, however, companies rented 9,885m2 in Dublin, the lowest on record, according to commercial real estate agent CBRE.
A spokesperson for developer Marlet could not immediately comment. – Bloomberg
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