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Google increases its Dublin footprint yet again

Independent.ie logo Independent.ie 6 days ago Ronald Quinlan Commercial Property Editor

Bikes at Googleplex - Google Headquarters © Getty Images Bikes at Googleplex - Google Headquarters Google is to increase its already-substantial presence in Dublin even further after reaching an agreement to lease new offices in Sandyford in South County Dublin.

Google's move into the Chase building, which is owned by US real estate investment firm Kennedy Wilson, represents its second foray within six months into the Sandyford Business District (SBD).

Last August, the company reached agreement with Irish Life to lease four floors at the nearby Blackthorn Building.

The US web giant's agreement with Kennedy Wilson brings several months of talks between the parties to a successful conclusion, and will see it occupy the remaining 52,900 sq ft of vacant space at The Chase building.

While Kennedy Wilson did not identify Google in its announcement of the deal yesterday, Mary Ricks, president and CEO of Kennedy Wilson Europe, welcomed the agreement, saying: "We continue to be attracted to the fundamentals of the Dublin office market, where we are seeing strong levels of occupational demand."

Kennedy Wilson's 15-strong Dublin office portfolio is 98pc occupied.

Most notably, it includes the Capital Dock mixed-use campus development in the city's fast-growing south docklands.

The Chase building in Sandyford, owned by Kennedy Wilson © Provided by Irish Independent The Chase building in Sandyford, owned by Kennedy Wilson The entire office element of the scheme has already been snapped up following the sale last year of 200 Capital Dock to US investment bank JP Morgan and the lease-up of 100 and 300 Capital Dock to Indeed.

Since Google acquired its EMEA headquarter offices on Barrow Street and the nearby Montevetro Building in 2011, it has tended towards concentrating its search for additional office space within that immediate area, earning it the moniker of 'Googletown'.

Only last week, the company formally opened its latest offices in the Dublin docklands area, inviting Taoiseach Leo Varadkar to cut the ribbon on the newly-contructed Velasco Building on Grand Canal Street.

The 51,000 sq ft property is within walking distance of Google's Barrow Street headquarters.

It is almost directly opposite the Treasury Building, the purchase of which the company is currently negotiating.

Google's bid to acquire the €170m Boland's Quay development is also understood be at an advanced stage.

Outside of its presence within Dublin's central business district and the Sandyford Business District, the US web giant entered into a 10-year lease on Block L at Freeman House in East Point Business Park in 2013.

All told, Google currently employs over 7,000 in the capital. (Additional reporting Bloomberg)

Related: Here's where all the UK's major banks stand on buying bitcoin [Business Insider UK]

a close up of a sign: <p>As bitcoin and other cryptocurrencies rise in popularity and <a href="http://uk.businessinsider.com/bitcoin-ethereum-ripple-cryptocurrency-prices-february-8-2018-2?utm_source=msn.com&utm_medium=referral&utm_content=msn-slideshow&utm_campaign=bodyurl"> their prices swing wildly</a>, so too are they entering the consciousness of mainstream financial institutions.</p><p> Not only are big banks looking at the applications of bitcoin and the blockchain technology attached to it, so too are they worrying about the impact the volatility could have on their customers.</p><p> This is particularly true when it comes to people using credit cards to speculate on bitcoin.</p><p> Although there is only anecdotal evidence of this, there is believed to be a growing number of people maxing out their credit cards to buy cryptocurrencies in the hope that their price will appreciate.</p><p>Banks are concerned that wild swings in cryptocurrency prices will expose their customers to heavy losses, making them unable to repay their credit card debts.</p><p>As such, some lenders have barred their customers from using credit cards to buy cryptocurrencies, with American banks <a href="http://uk.businessinsider.com/jp-morgan-bank-of-america-citigroup-ban-bitcoin-credit-card-buying-2018-2?utm_source=msn.com&utm_medium=referral&utm_content=msn-slideshow&utm_campaign=bodyurl"> JPMorgan Chase, Bank of America, and Citigroup</a> leading the way. A number of UK banks have now followed suit, but which ones?</p><p> Business Insider asked all the UK's major high street banks for their positions on allowing customers to buy cryptocurrencies on credit. Check them out below.</p> Here's where all the UK's major banks stand on buying bitcoin

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