International law firm Addleshaw Goddard has signed a new 14-year lease with SMBC Aviation Capital to occupy the second floor and a portion of the first floor at Fitzwilliam 28 in Dublin city centre.
The agreement will see the firm move from its existing Irish base at Temple Chambers on Burlington Road to the modern office building on Fitzwilliam Street Lower in Dublin 2 in January 2025, thus expanding its footprint by 42 per cent to 2,576sq m (27,722sq ft).
While the rental figure has not been disclosed, The Irish Times understands that Addleshaw Goddard has agreed to pay in the region of €55 to €57 per square foot for the new office space. The deal was brokered on Addleshaw Goddard’s behalf by JLL, with Savills representing SMBC.
Addleshaw Goddard announced earlier this year that revenue at its Dublin office had increased by 45 per cent over the past two years, while its headcount grew by more than 20 per cent to 143 people over the same period. It now aims to grow its headcount by a further 10 to 15 per cent, and the offices at Fitzwilliam 28 have the capacity to accommodate more than 200 employees.
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“Fitzwilliam 28 will allow us to continue to grow at the ambitious pace we have set for the firm,” said Mark Walsh, head of the firm’s Irish operation.
“Over the past two years we have achieved significant revenue growth while investing in our team of lawyers and expanding our service offering to clients.
“Number 28 provides a modern eco-friendly workplace that will enhance how we work and deliver for our clients and will help us to retain and attract the best talent in the market,” said Walsh.
Of the deal, Andrew Johnston, managing partner at Addleshaw Goddard International said: “Mark and the team in Dublin have grown the business in Ireland by significantly expanding their service offering over the past 12 months and by delivering a high level of client service. We have already seen the team’s strengths come to the fore as they collaborate with their colleagues across the Addleshaw Goddard international network.
“Ireland is an important market in the firm’s global growth strategy and the new office premises in Dublin will set the firm up for future success in delivering for both Irish and international clients.”
Designed by Grafton Architects and O’Mahony Pike Architects, and built by contractors PJ Hegarty & Sons, Fitzwilliam 28 occupies a prime location in Dublin’s traditional central business district. The property offers the highest sustainability credentials with an A3 Ber rating along with Breeam-Excellent, Leed-Platinum and Nzeb (nearly-zero energy building) certification. The scheme’s tenant amenities include car parking, bicycle parking and showers with changing, drying and locker facilities.
It is one of two adjoining but independent blocks developed by ESB. The sister block to 28, Fitzwilliam 27, is owner-occupied by the utilities provider. The overall scheme is owned by Amundi Real Estate, a specialist subsidiary of Europe’s leading asset manager Amundi, a company with some €1.934 trillion in assets under management. Amundi acquired Fitzwilliam 28 for €180 million in November 2020.
In May 2023, SMBC Aviation Capital instructed Savills to offer the first and second floors of the property to prospective occupiers less than six months after it took over the long-term lease of the building from Slack Technologies.
Slack had been due to take occupation of the entire building before the onset of the Covid-19 pandemic in early 2020, however, that plan was abandoned following the company’s acquisition for €27.7 billion by Salesforce. The workforce collaboration specialist’s entire operations is now located at Salesforce’s recently opened new European headquarters in Dublin’s north docklands.
