Pembr signs 16 St Stephen's Green for flagship site

Pembr has signed for the entire 40,000 sq ft office building at 16 St Stephen's Green in Dublin, in the largest transaction in its history.

The flexible workspace provider will make the building its flagship site when it opens, bringing its estate to 28 buildings and more than 3,000 workstations across Dublin city centre.

The move expands Pembr's presence on St Stephen's Green, where it already operates at numbers 24 and 25. Founded by Bob Manson and Thomas Lenehan, the company has grown from a single Georgian office building into one of the larger operators in Dublin's flexible office market.

Its customer base includes Irish companies and international groups such as Shein, Expedia, ClickUp, Rippling, Temu, Significant Health and Munich Re. The latest letting comes as workspace operators seek to benefit from renewed office demand in central Dublin.

Market backdrop

Pembr linked the transaction to changing workplace strategies among occupiers, saying businesses continue to seek shorter-term office arrangements as they balance flexible working with a greater emphasis on in-person collaboration.

It also pointed to tighter market conditions in Dublin 2, where vacancy has fallen to around single digits after several years of weaker office demand. That has increased competition for central buildings offering modern space and access to transport links.

Located in one of Dublin's best-known office districts, 16 St Stephen's Green will have more than 10,000 sq ft, about a quarter of its total space, allocated to shared amenities and collaboration areas.

Facilities are set to include a staffed reception, meeting rooms, phone booths, Zoom rooms, a barista café, a wellness centre, secure bicycle parking and showers. Dating from 1779, the building combines restored Georgian features with newer Grade A office accommodation.

Founder milestone

The deal also revives a long-standing connection with landlord October Investments. One of the first buildings leased by Pembr was owned by the same landlord, giving the agreement added significance as the business nears two decades in operation.

In comments on the transaction, Pembr described the signing as a major investment at a time when demand from multinationals and domestic firms remains steady. It said companies increasingly want offices that offer services and facilities beyond basic desk space.

"Securing 16 St Stephen's Green is a defining moment for Pembr and represents the biggest investment we have made since founding the business in 2007. As we approach our 20th anniversary, this is one of the most important days in the company's history and a major milestone in our growth journey. Over the past two decades, we have grown steadily from a single building into one of Dublin's leading flexible workspace providers, supporting a diverse mix of indigenous start-ups and scale-up as well as global businesses. This transaction is an important milestone in that journey and reflects our confidence in the future of Dublin as a place to do business," said Bob Manson, Co-founder of Pembr.

Manson also set out the company's view of wider demand in the market.

"We continue to see strong demand for high-quality, flexible workspace from organisations looking to attract talent, foster collaboration and create great workplace experiences. Companies are increasingly looking for office environments that offer more than just desk space, with amenities, wellbeing facilities and hospitality-led services becoming an important part of how employers encourage people back into the workplace. As the Dublin office market continues to recover, we believe premium flexible workspace will play an increasingly important role in the future of work. This investment positions us for the next phase of our growth and gives us a strong platform to continue expanding our presence in Dublin in the years ahead," Manson said.

Lenehan said the agreement had particular resonance because of Pembr's early history with the same property owner.

"When we started the business in 2007, one of the very first buildings we took on was owned by October Investments. At the time, we were at the very beginning of our journey, with a single property and a belief that there was an opportunity to create something different in the Dublin market. Nearly twenty years later, we are partnering with the same landlord on what will become our flagship location and the largest transaction in our history. There is something very special about that journey and it makes this a genuine full-circle moment for everyone involved," said Thomas Lenehan, Co-founder of Pembr.