Irish property company Iput is understood to be closing in on the purchase of the former headquarter offices of leading Dublin law firm, Ivor Fitzpatrick & Co, at 44/45 St Stephen’s Green.
The property, which occupies a pivotal position at the junction of St Stephen’s Green and Hume Street, was offered to market in May with the benefit of full vacant possession by agent Knight Frank at a guide price of €10 million.
The firm’s move from St Stephen’s Green and the expected sale of the building comes just over one year after the death of its founder and managing partner, Mr Fitzpatrick.
Built in the early 1970s, 44/45 St Stephen’s Green, Dublin 2, comprises a modern concrete structure behind a mock-Georgian facade.
READ MORE
The building, which extends to a net internal area of 1,564sq m (16,830sq ft), has a mix of open-plan and cellular offices over six floors, with typical floor plates of about 293sq m (3,150sq ft). The property has 15 car-parking spaces.
Should Iput complete its acquisition of the property, it will likely explore the options for refurbishment or a full-scale retrofit set out in the feasibility study prepared in advance of the sale by Reddy Architecture + Urbanism.
Proposed enhancements include the provision of a new internal core, a reimagined internal layout and the addition of an extended penthouse level.
These upgrades could bring the building’s footprint up to a net internal area of 1,640sq m (17,653sq ft) while improving the property’s sustainability.
No.44/45 St Stephen’s Green served for many years as the office of Ivor Fitzpatrick & Co.
During his lifetime Mr Fitzpatrick forged a hugely successful career in law and in business.
He made much of his wealth – he was reputed to be worth up to €100 million at the time of his death – from property, in which he was associated with some of the country’s biggest developers and investors. Among them were Paddy McKillen, Johnny Ronan and Pat Doherty. Other business partners and law clients included Robert ‘Pino’ Harris and Dermot Desmond.
