Construction begins on new six storey 'Vertium' building in south Dublin

It is thought the office space could accommodate 2,000 workers

Dublin, office space, new building, Vertium building, Burlington Road, Savills

Image: Savills

A new six storey building is set to change the streetscape in Dublin 4.

The 172,000 square foot 'Vertium' office building is being constructed on Burlington Road, and is due for completion in 2017.

Construction activity is said to be well underway, with the basement fully excavated and the main structure now rising.

It will be the first major CBD (central business district) office development to come on stream since the economic downturn.

The project is a collaboration between three property companies - Union Investment, U+I and Ronan Group.

Image: Savills

The building will span almost 100 metres on Burlington Road and, upon completion, could accommodate up to 2,000 workers.

Roland O'Connell, chairman of Savills and Declan O'Reilly, director of Knight Frank - the joint letting agents for Vertium - made a joint statement.

"It has been well documented that there is simply not enough office space to meet the demand of occupiers in Dublin's central business district".

"Major new office schemes such as the Vertium building are crucial in ensuring Dublin remains a competitive city when it comes to attracting foreign direct investment".

"The level of interest, best expressed by occupiers already, is very encouraging, prompted by the fact that there is very little new stock that can be delivered within the next 15/18 months in Dublin," they said.

Savills and Knight Frank are quoting a rent of in excess of €55 per square foot.