The appetite for shared office spaces continues to grow in Dublin, with US company Knotel expanding their offering in the capital.
Knotel, the global flexible workspace provider for start-ups and SMEs, has expanded its Dublin offering by adding two properties in the city’s docklands area.
Founded in 2016, the New York-based office company joined the increasingly competitive Dublin market with the opening of a space in the capital last November when it acquired three floors totalling 733sq m (7,894sq ft) in Riverview House on City Quay.
“Our entry to the Irish market is based upon customer demand, and the growing maturity of Dublin’s commercial real estate market”
The US company has now signed leases at the Bloodstone Building on Sir John Rogerson’s Quay and at Ashford House on Tara Street, Dublin 2.
Responding to customer demand
Frank Zorn, the company’s head of European expansion, said:“Many enterprise customers from across a number of our markets have inquired about Knotel’s offering in Dublin.
“Our entry to the Irish market is based upon customer demand, and the growing maturity of Dublin’s commercial real estate market. We look forward to providing our tailored and scalable workplace platform to new and existing customers in Dublin, aligned with their business and property needs.”
Over the last couple of years, Knotel has been on an aggressive expansion in Europe. Since crossing the Atlantic, the company has acquired five European bases, with offices in London, Berlin, Amsterdam and Paris, as well as Dublin.
In 2019 alone, Knotel increased its customer base by 124 per cent globally, and now works with 20 per cent of Fortune 100 companies.
The city’s market for co-working and shared office spaces has heated up significantly in recent years. WeWork has five locations in the capital and Talent Garden opened its doors here in 2018, while Huckletree have more than 50 residents in their Dublin 2 building.
Knotel has raised more than $560 million in venture financing, most recently $400 million last August at a valuation topping $1 billion.
By Stephen Larkin
Published: 29 January, 2020