WeWork opens flagship location at former Central Bank

WeWork’s One Central Plaza flagship location at the heart of Dublin houses 1,500 desks.

Workspace provider WeWork has opened the doors on its One Central Plaza building in the heart of Dublin which was formerly Ireland’s Central Bank.

The building spans eight floors and totals 73,000 sq ft of flexible workspace.

WeWork Central Plaza houses 1,500 desks and offers a range of workspace options that meet the needs of modern businesses. The flagship location features office suites and conference rooms for collaborative work, as well as bookable office space and phone booths for heads-down tasks.

The location will also be open to WeWork All Access and On Demand members, enabling workers to rent a desk or meeting room at this location, as well as hundreds of other WeWork locations across the globe, by the hour or day.

The opening of the new location comes at a pivotal time for WeWork. The flexible space provider is expected to emerge from Chapter 11 in mid-June following a Plan of Reorganisation that will see the company eliminate $4bn of debt as well as make savings of $12bn in lease liabilities.

In the heart of the city

This April, WeWork saw All Access bookings per location in the Irish capital increase by 51% year over year, and On Demand bookings per location increase by 296% in the same period.

Dublin has also seen a 26% increase year over year in total footfall by occupied desk. At the time of opening, WeWork One Central Plaza is at 50% occupancy.

“We’re thrilled to be opening our doors to the distinguished One Central Plaza in Dublin, a burgeoning business hub and a key market for us,” said Ben Samuels, chief revenue officer at WeWork.

“This opening marks a significant moment for WeWork as we enter a new phase for the company – putting our best foot forward with our strongest locations globally.

“As more companies look to incorporate flexible workspace into their portfolio, WeWork continues to cement its position as a go-to partner to power workplace strategies that marry business and employee needs. I’m confident that WeWork One Central Plaza will be a top choice for scaling businesses prioritizing well-designed space with first-class amenities in a prime location.”  

One of the occupants at the new location will be Swedish fintech giant Klarna. “A well-designed, dynamic space where our team can collaborate is crucial to supporting Klarna’s unique way of working,” said Colin Creagh, head of Ireland at Klarna.

“WeWork is our workplace partner of choice, and we’re super excited about moving to WeWork One Central Plaza. It’s a state-of-the-art office where our employees can do their best work, disrupting the global retail banking sector with fairer, more transparent products.”

The former Central Bank building in Dublin opened amid controversy in 1978 but became a beloved hangout spot for young Dubliners through the decades.

Designed by architect Sam Stephenson it served as the headquarters of the Central Bank from 1979 to 2017 but has been closed since then.

Leased by WeWork in 2018 its owners Hines and Peterson Group redeveloped it into a mixed-use complex with offices, retail units, restaurants, and a two-story rooftop venue with 360-degree views of Dublin.

WeWork will be the main tenant at Central Plaza, welcoming a new generation of companies of all sizes from entrepreneurs and start-ups to scaling, established players.

The One Central Plaza building is the latest in a number of WeWork locations that include Charlemont Exchange, 2 Dublin Landings and Iveagh Court.

Amenities at One Central Plaza include a barista bar, WeWork’s on-site community team, showers and a beer island. The building also features a rooftop restaurant where members will have access to 360° panoramic views of Dublin.

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