ESRI seeks €10.5m for Dublin HQ and begins search for office to suit hybrid-working policy
The Economic and Social Research Institute (ESRI) has engaged Lisney to find a buyer for its headquarter office in Dublin ’s south docklands. Three Whitaker Square, which the ESRI has occupied since its construction in 2006, is being offered to the market with the benefit of vacant possession at a guide price of €10.5 million. While The Irish Times understands the ESRI has yet to secure a new premises for its operations, it has looked provisionally at a number of potential options in Dublin city centre. The precise size of the think tank’s new office has yet to be determined but will be in keeping with its hybrid-working policy, meaning it will likely be smaller than its current base at Sir John Rogerson’s Quay. The ESRI moved to Three Whitaker Square in November 2006 on foot of a deal it had agreed the previous year with a consortium of developers involving the site of its long-standing headquarters at No 4 Burlington Road. Having secured planning permission to redevelop the ESRI’s building along with two adjacent buildings, the consortium offered the institute a pause in its rent-review process, a new building for purchase and financial compensation to terminate its lease. The ESRI accepted the offer and moved to Three Whitaker Square in 2006. An examination of the ESRI’s annual accounts for 2006 show that it had a mortgage of €13.5 million on the building with Permanent TSB when it moved there first. That figure had been reduced to €4.85 million in 2025 and is now owed to Mars Capital Finance Ireland according to the institute’s latest financial statements. Three Whitaker Square extends to a net internal area of 2,346sq m (25,254sq ft) distributed over six storeys with eight basement car-parking spaces. The accommodation currently comprises fitted office space, meeting rooms, seminar facilities and staff amenities. The building is self-contained and occupies a prominent position in Dublin’s south docklands and sits within walking distance of the city centre. Commenting on the sale, James Nugent of Lisney said: “Three Whitaker Square is one of the few fully vacant office buildings of its scale currently available in Dublin 2. The combination of vacant possession, a proven office location and flexible accommodation is expected to appeal to both owner occupiers and investors. “Having been occupied by the same owner since its completion in 2006, the building offers an incoming purchaser a straightforward opportunity to establish a headquarters operation, undertake refurbishment works or reposition the asset to meet current market demands.” ESRI criticises Government for not managing public finances ‘prudently’ ahead of Budget 2027 A spokesperson for the ESRI said: “Three Whitaker Square has been our home since the building was developed in 2006 and has played an important role in supporting the institute’s work over the past two decades. As we prepare for our next chapter, we are pleased to bring this landmark property to the market and look forward to identifying a new owner for the building.”