WeWork empire expands in Dublin with plans for former Central Bank

18 Jun 2018

Former Central Bank building on Dame Street, Dublin. Image: ShutterupEire/Shutterstock

WeWork has selected its fourth big building in Dublin, increasing its potential to eventually accommodate up to 4,000 professionals.

Just days after WeWork officially opened its first collaborative working facility on Harcourt Street, it has emerged that the New York workplace provider has secured its fourth facility in the city.

WeWork is understood to have signed a deal to lease all of the office space at the former Central Bank building on Dame Street in Dublin.

The workspace company is in stealth mode in Dublin and already has 1,000 people from 100 companies located at its Harcourt Street facility, including firms such as Twilio and Microsoft.

The growth is being accelerated by a continuing digital boom in the city, leading to a surge in demand for office space from start-ups and tech multinationals as well as small creative firms and freelance professionals.

What stealth looks like

View of Harcourt Street

A view from the first WeWork premises overlooking Harcourt Street. Image: Robbie Reynolds

As well as the Harcourt Street building, WeWork has already committed to open two new similar-sized premises, one at No 2 Dublin Landings on North Wall Quay, next door to the new Central Bank of Ireland headquarters near the IFSC; and another at Georges Quay on the south bank of the Liffey, close to Tara Street DART station.

Each of those facilities could house a further 2,000 workers from companies attracted to this new way of working.

According to the Irish Independent, WeWork plans to occupy eight floors at the Central Bank site on Dame Street from US property giant Hines and Hong Kong company Peterson.

The former Central Bank premises – which will be known as Central Plaza and will boast fashion outlets and restaurants – will have more than 134,000 sq ft office space occupied by WeWork, enough to accommodate up to 1,300 people.

Valued at $20bn, WeWork recently acquired UK office design and fit-out company LTB, and revealed plans to buy Devonshire Square, a sprawling 13-building campus in the city of London.

“Dublin has always been on our radar,” WeWork UK and Ireland general manager Leni Zneimer told Siliconrepublic.com last week.

“It’s clearly an innovative city with so much business presence. It is a hub for tech, media, transport, and every day amazing things are happening here.”

Former Central Bank building on Dame Street, Dublin. Image: ShutterupEire/Shutterstock

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years