The entire Bolands Quay development project in Dublin city centre has been sold to Google, according to Mark Reynolds of Savills, the NAMA-appointed receiver to the project.
The Bolands Quay site first received planning permission in 2015 and since then NAMA has provided funding for demolition and enabling works.
The development is one of the largest urban regeneration projects to have been undertaken within Dublin city centre in recent years and comprises of 28,000 sq metres of office space, 46 apartments, cafés and cultural space.
It will include three new landmark buildings, one rising to 53 metres, another to 49 metres and a third to 47.8 metres.
BAM is the main contractor and the scheme is set for completion on a phased basis from the second quarter of 2019.
Savills said that Google will retain the office accommodation for its own use and will appoint a commercial letting agent to manage the letting of the remaining commercial premises and apartments.
The Bolands Quay site will be linked to Google's European headquarters on Barrow Street via walking routes through the site.
Fionnuala Meehan, VP and head of Google in Ireland, noted that the company was the first multinational company to establish operations on Barrow Street in 2005
"With this investment, Google is ensuring we have the space to continue to grow our EMEA HQ operations into the future," Ms Meehan said.
"This is a really exciting time for Google and follows on from our recently announced investments in Velasco and in our Data Centre in Grange Castle South," she added.
Mr Reynolds said that securing the sale of the entire campus to one owner occupier has significantly de-risked the project and has justified the decision to build out the entire scheme.
"The vision set out for Bolands Quay is now becoming a reality and the sale reinforces the quality of the planning permission secured and design credentials of the project," Mr Reynolds said.
He also said that credit must be given to Dublin City Council as Planning Authority on delivering an SDZ Planning Scheme that works.