Starwood Capital and Chartered Land launch the eagerly anticipated 182,500sq ft Seamark Building in Elmpark Green

The launch of the Seamark Building copper fastens progress at Elmpark Green

Dublin, March 2017 – Starwood Capital Group & Chartered Land will this week formally launch ‘The Seamark Building’ at Elmpark Green, Dublin 4. This landmark eight storey building is the gateway to the award winning mixed use campus.

The Seamark Building will deliver 16,940 sq m (182,500 sq ft) of Grade A office accommodation and has been designed with full flexibility to accommodate a range of occupier requirements in a truly unique campus setting overlooking Dublin Bay.

The building can be seamlessly split to facilitate two fully independent office blocks featuring separate double height glazed reception areas. Alternatively the building can be combined to provide a single headquarter building.

The Seamark Building has a target BER rating of A3 to B1 and a target LEED rating of Platinum. These ratings recognise the excellence in design and energy efficiency adopted throughout. The office accommodation will be fully air conditioned with a four pipe fan coil system and the design provides for an occupational density of 1 person per 8 sq m. The outstanding natural light to all floors provides the perfect environment for employees.

Occupiers will have the benefit of 161 secure basement car spaces whilst cyclists and fitness enthusiasts will enjoy generous provision of 32 showers and high quality changing areas. The DART Booterstown is a short walk away and both the Dublin Bus Service and Aircoach have stops directly outside the campus.

The Seamark Building benefits from unrivalled panoramic sea views across Dublin Bay. The mixed use campus is currently home to a community of some 3,000 people. This is likely to grow to 4,600 people on occupation of the Seamark Building. The campus provides a diversified array of amenities including apartments, coffee shops a childcare centre and leisure facilities. Elmpark Green has succeeded in attracting some of the world’s leading global corporates including Allianz, Novartis, Wipro & Willis.

The Seamark Building is available for occupation from Q4 2017 and can cater for office requirements ranging from 20,000 – 182,500 sq ft.

Henry J Lyons Architects have been engaged on the Seamark Building while Bucholz McEvoy Architects, the original designers of Elmpark Green, have been appointed to on the improvement of landscaping and amenities.

Agents CBRE & Colliers International are quoting a rent of €425 per sq m (€39.50 per sq ft) based on the net internal area and €2,500 per car space. These rents represent a significant discount to those in the Dublin CBD.

Elmpark Green compares favourably with the very best alternatives in Dublin and is an ideal location for tenants who are looking to locate in an attractive and well-connected part of Dublin in a high quality campus environment. These strengths are clearly demonstrated by the prominent tenants who have already chosen to locate here.

Andrew Gunne, Chief Executive of Chartered Land said, “Launching the 182,500 sq ft Seamark Building in the award-winning Elmpark Green campus is very exciting for us. On completion in Q4 2017 the Seamark Building will provide modern office accommodation for medium to large-sized corporate occupiers looking to take new space at a healthy discount to CBD rents”.

Alan Moran CBRE/ Nick Coveney Colliers stated “If you look at who has already located there and consider the quality of the environs, it is easy to understand why the Seamark Building has already generated considerable interest. The fact that the building is easily divisible gives us great flexibility on a lease-up strategy.”

About Starwood Capital Group

Starwood Capital Group is a private investment firm with a core focus on global real estate. The Firm has raised more than $33 billion of equity capital since its inception in 1991, and currently manages over $45 billion in assets. Starwood Capital Group has invested in virtually every category of real estate on a global basis, opportunistically shifting asset classes, geographies and positions in the capital stack as it perceives risk-reward dynamics to be evolving. The Firm is already a major, long-term investor in the Irish property market. In 2013, Starwood Capital Group via a controlled affiliate acquired the Aspen non-performing loan portfolio comprising 39 commercial properties, and has implemented a number of asset management initiatives across this portfolio, including redeveloping several of the assets. In 2015, another Starwood Capital Group affiliate acquired a 610,000 square foot Class A office and residential portfolio in Ireland’s largest direct real estate transaction of the year.

About Chartered Land

Founded in 1999, Chartered Land is one of the largest property development and investment companies in Ireland. Led by Executive Chairman Joe O’Reilly and Chief Executive Andrew Gunne together with an experienced senior team of professionals, Chartered Land has developed close to 2 million sq. ft. with a focus on large scale developments in core sectors.

Chartered Land is responsible for delivering a number of the most prestigious and innovative real estate developments in Ireland including the Dundrum Town Centre; the Bord Gais Energy Theatre and Grand Canal Square office scheme in the heart of Dublin’s docklands; Swords Pavilions and a mixed-use retail led development on South King Street, Dublin 2.

Chartered Land has a strong track record in successful joint ventures with long-term institutional capital partners. They are also currently developing a prestigious residential development on Lansdowne Road in Ballsbridge, Dublin 4 in conjunction with a Sovereign Wealth Fund.

Elmpark Green

Elmpark Green was acquired by Starwood Capital in February 2016. The campus is a major office and multifamily campus development situated on Merrion Road, Dublin 4, close to the landmark Merrion Gates.

The 17.3-acre site comprises:

  • Three completed and occupied blocks of commercial offices, one of which is owned by Friends First and one by Standard Life. Tenants of the blocks include Willis, Wipro, Allianz and Novartis.
  • The 182,500 sq ft Seamark Building —prominently located at the front of the site— offices due for completion as commercial offices in Q4 2017.
  • Two blocks of multifamily housing totalling 332 units.
  • A terrace of eight houses located at the front of the site.
  • A café, a day care facility and a leisure centre.

Elmpark Green has won numerous awards for its striking design and its environmental credentials, which include a sophisticated onsite energy centre. Its location contiguous to Ballsbridge, Donnybrook, Belfield and Blackrock is well-served with public transport links and enjoys easy access to the Port Tunnel, Dublin Airport and M50.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

In Ireland, with offices in Dublin and Belfast, CBRE is the country’s largest commercial real estate services company, now employing over 165 employees and offering a full range of property services including property sales and acquisitions, leasing and management, investment, corporate services, debt advisory, project management, consultancy, business rates and compulsory purchase, valuations and research. Please visit our website at www.cbre.ie or www.cbre.ie/ni.