Barclays ready to make Dawson Street its EU home

Confirmed location for its post-Brexit hub....

Barclays ready to make Dawson Street its EU home

Barclays has settled on One Molesworth Street as its new Dublin address.

According to The Irish Times, the UK bank will base its main EU hub in the Dawson Street redevelopment if it loses easy access to the trading bloc due to Brexit.

Rental terms have been agreed with owners Green REIT, with Barclays's 40,000 sq ft floor area accounting for more than half of the building's space.

Barclays will pay close to €645 per sq m (€60 per sq ft) for 3,716sq m (40,000sq ft) for the One Molesworth Street spot, which was designed by Henry J Lyons and is currently under construction.

Barclays has previously denied media reports citing Ireland as the location for its new European subsidiary, stressing its commitment to London.

It is thought to be looking at additional floors at its current Irish home of Park Place and adding 150 extra Dublin staff.

Securing Barclays would be a big win for a Government that has been criticised for losing out to the likes of Frankfurt as competition heats up to give a home to financial institutions looking to make the leap off the good ship Britannia.

The Central Bank has also been subject to barbs, with governor Philip Lane moved to defend it in a recent letter to Fine Gael Senator Neale Richmond.

Lane todl the politician that it was not the Central Bank's job to promote Ireland's financial services sector and that its approach to firms inquiring about post-Brexit investments here has been appropriate thus far.

The Irish Times also notes that a branch of London's prestigious Ivy Collection of restaurants will be Barclays' ground floor neighbour.

Caprice Holdings has agreed an annual rent of €500,000 per year for a 743sq m (8,000sq ft) area that will have "distinctive street frontage" onto Dawson Street, "featuring "vertical glass fins, solid bronze and an impressive bronze anodised brise soleil."

It will be located directly opposite Marco Pierre White's Steakhouse & Grill.