- What Workday cancels 160,000 sq ft letting deal in Dublin
- Why Had been negotiating a subletting deal with Eir at HSQ
- What next US tech firm to remain at Kings Buildings for now
Workday, the US technology giant with a market capitalisation of over €40bn, has pulled out of a 160,000 sq ft office letting deal in Dublin city centre, React News can reveal.
The financial management software business had been engaged in long running sub-letting discussions with Eir, the telecom company, for the office space at 1 Heuston South Quarter, before Workday pulled out of the deal last week.
The decision is understood to centre around changes in management and the rate of headcount growth rate, according to market sources, rather than linked to the current coronavirus situation. Although, the increasing rate of spread in the US will undoubtedly have knock-on effects for large corporate firms.
Workday offers enterprise-level software solutions for financial management, human resources, and planning. The business has said it plans to remain at current Dublin base at Kings Building, which is also the firm’s European headquarters.
New requirement may comeback to the market
According to market sources, Workday will likely bring out a somewhat reduced office requirement after the coronavirus crisis passes.
A Workday spokesperson said: “Workday continues to grow in Dublin, with an increase of 950+ employees in five years. While we do not anticipate that our employee growth rate will slow down, we have decided not to sign the lease on a new premises at the Heuston South Quarter building, and plan to stay in our current offices in the Kings Building. Our European headquarters is much loved by our employees and continues to be instrumental in our award-winning workplace culture.”

Eir trying to sublet building owned by Hong Kong’s richest man
Telecoms group Eir vacated the two blocks it leased Heuston South Quarter in 2018, moving over 1,000 staff to other locations. Eir’s lease for the 215,000 sq ft of office space runs until 2033.
It has successfully sub-let block 2, consisting of 56,000 sq ft of offices, to AIB at around €35 per sq ft. Workspace had been in talks on the 160,000 sq ft block 1 for nearly a year.
Located in Kilmainham, the office scheme is owned Li Ka-shing, after it was acquired for €176m by a company controlled by one of Hong Kong’s richest men – CK Hutchison Holdings.
Eir declined to comment