Castlepark Building Company, owners of the well located Scotch House office development at Burgh Quay in Dublin 2, is planning to redevelop the 1980s block and adding two set-back floors including a new penthouse with full-height glazing.
Conor Whelan of Allsop, who is advising the owners, has confirmed that ongoing discussions with city planners have coincided with two approaches from investors interested in acquiring the building.
He said it was still Castlepark’s intention to redevelop the block.
Castlepark acquired the investment from IPUT in 2008 for €17.8 million with the long-term intention of redeveloping it.
At that stage it was occupied by the Irish Aviation Authority and although its lease does not run out until 2016 it later moved to the redeveloped former Irish Times office on D'Olier Street. Scotch House is now fully let to a number of sub-tenants.
However, with the supply of high-quality office space at a premium in Dublin city centre, Castlepark is now in discussions with city planners about its plans to provide a new façade as well as the two additional floors.
This would bring the overall accommodation up to 3,995sq m (43,000sq ft).
Other changes being prepared by Lafferty Architects include the upgrading of the block to either a BREEM or a LEED sustainable building and the provision of a 139sq m (1,500sq ft) restaurant on the ground floor and part of the basement currently used as a car park.
