Embattled property developer Liam Carroll suffered a major blow last week when US company Dun & Bradstreet opted against opening in his Cherrywood office scheme in south Dublin. When it is signed, the deal will be the largest office letting in Dublin this year.
Instead sources said the credit information provider is planning to take between 70,000 and 80,000 square feet of space at The Chase, an office development in Sandyford owned by private clients of AIB and property developers Derek O'Leary and Reg Tuthill.
Up to 500 people could typically be employed in an office building of that size. Carroll's Cherrywood scheme was the runner up in the beauty parade, with Treasury Holdings' Central Park also in the running until recent weeks.
The previous largest deal was also at The Chase, when ServiceSource, which provides support for technology companies around the world, signed a deal to lease 40,000 square feet of space there.
Ironically, it had been based at Carroll's Cherrywood scheme where it had taken space on a short-term sublease at the Lucent building there. The Dun & Bradstreet deal would also be a major fillip to the suburban office market, which has lagged as the downturn hit.
On Tuesday the Supreme Court is due to rule on whether Carroll's Zoe Group should have been allowed take a second application for examinership.
The case was taken by ACC, counsel for whom described it as an 'abuse of process'.