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Google completes acquisition of mixed-use Dublin scheme

Google Inc. closed on the purchase of the entire mixed-use Bolands Quay scheme in Dublin's docklands, which was reported to be in the works with National Asset Management Agency-appointed receiver Savills Ireland since November 2017.

While Savills did not disclose the financial terms of the transaction, it is said to be worth about €300 million, the Irish Independent reported.

The National Asset Management Agency injected funds for demolition and enabling works after the site received planning permission in July 2015, Savills said in a release. The urban regeneration project will feature three new landmark buildings, the tallest of which will stand 53 meters. The scheme will span 28,000 square meters of office space, 46 apartments, cafes and cultural space.

The Irish Independent earlier reported that the €170 million Bolands Quay will offer a 15-story apartment block and a 13-story office block.

BAM was appointed as the main contractor and the scheme will open on a phased basis from the second quarter of 2019, Savills said.

The technology giant will use the office space and tap a commercial letting agent to lease out the commercial premises and apartments.

Google has invested more than €1 billion in Ireland since 2003 and has also announced a €150 million extension to its Dublin data center.