Knotel launches in Dublin

Knotel has launched in Dublin with plans to grow market share in one of WeWork’s key European markets. The New York-based flexible workspace operator has leased three floors totalling 7,894 sq ft at 21-23 City Quay, Dublin 2. The firm has sublet one floor of the privately owned office block to US electronics repair firm Ivy Technology. Frank Zorn, head of European expansion at Knotel, said: “A significant number of our enterprise customers, from across a number of our markets, have enquired about Knotel’s offering in Dublin. “Our entry to the Irish market is based on 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.” Elsewhere in Europe, Knotel has offices in London, Paris and Berlin. It also has sites in New York, San Francisco, Los Angeles, Washington, Boston, São Paolo and Rio de Janeiro. Previously, Knotel had announced plans to lease up to 200,000 sq ft in Dublin by the year-end. With just under 8,000 sq ft secured so far in Dublin, it has a long way to go to reach this target, as well as to catch up with rival WeWork. Since WeWork opened its first space in Dublin last year, the firm has grown to have close to 470,000 sq ft across its portfolio in the city, according to BNP Paribas Real Estate. That makes Dublin the company’s largest market in Europe behind Berlin, where it has more than 760,000 sq ft, Paris (1.5m sq ft), and London (3.3m sq ft). Savills advised Knotel. Savills’ serviced office platform, Workthere, acted for Ivy Technology. To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette