Bloomberg - Top firm said paying $4,704 a year for banker car parking spaces

Parked Car

The race for a parking space.

Across Dublin, signs of a new boom are everywhere.

Bloomberg News reports that cranes again pepper the city center. Celebrity restaurant hot spot The Ivy has opened close to parliament, hoping for an influx of bankers fleeing Brexit. In the same complex, Barclays is paying 4,000 euros ($4,704) a year apiece for car parking spaces and 2.36 million euros annual rent at its new offices.

Barclays’s rent is 13% more than the most recent estimate for the property, Green Reit Plc, which owns the building, said last week. Stoked by demand from finance, technology and legal firms, rising prices are helping push office construction back to Celtic Tiger levels. Then, the boom collapsed, with devastating consequences. A decade on, the market is being closely watched for signs of overheating, as economic growth hits 9%.

Hit the link below to access the complete Bloomberg News article:

Bankers Get $4,700 Car Parking Spaces as Ireland Roars Back

Jes Staley Stakes Barclays’s Future on Investment Banking



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