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Dublin Office Lease Extension & Floor Expansion

Proposal #5 · Submitted 2026-08-06
100
Recommend Approval
Strong financial return with acceptable payback period and positive NPV.
Requestor
Name
Fiona Gallagher
Email
Role
Office Manager
Region
EMEA – Ireland
Business Unit
Operations & Real Estate
Proposal
Description

Exercise option to extend existing Dublin 2 lease for 3 years and take additional half-floor (320 sqm) to accommodate planned 18-person recruitment wave supporting offshore wind advisory growth.

Strategic Rationale

Ireland offshore wind pipeline (ORESS 2) drives 40% headcount growth forecast. Failure to expand risks talent attrition to competitors with better facilities.

Approver Information
Urgency
High – option window closes 31 Aug 2026
Risk Level
Low
Risk Description
Existing landlord relationship established; minimal negotiation risk.
Alternatives Considered
New standalone lease in Silicon Docks evaluated — 60% higher fit-out cost.
Vendor / Supplier Shortlist
Existing landlord – Hibernia REIT
Implementation Timeline
2 months
Dependencies
HR recruitment sign-off
Regulatory Requirement
No
Carbon / Sustainability Impact
BER A3 building; no incremental carbon impact
Financial Metrics
CapEx £85,000
Annual OpEx Change £165,000
Annual Benefit £290,000
Useful Life 3 yrs
Payback Period 0.68 yrs
ROI (life-of-project) 341.2%
NPV £237,137
ROIU (yr 1) 147.1%
Cumulative Return (£)
YearCumulative (£)
Yr 1 £30,740
Yr 2 £137,908
Yr 3 £237,137
Committee Decision
Current status: Pending