Suburban office rents set to ‘catch up’ with city rates as KWE turns focus to south Dublin

International property investment group Kennedy Wilson Europe (KWE) is to focus its Irish operations more heavily on the south Dublin suburbs, expecting office rents and capital values there to catch up with city centre rates.

KWE — which owns a number of high-profile office sites in Dublin city centre — yesterday announced the acquisition of two office developments in the southside suburbs for a combined €76.9m.

These are the Chase building in Sandyford, which cost €62.5m and three buildings in Blackrock Business Park for €14.4m.