The Office of Public Works (OPW) has finalised the purchase of a strategically located office property in the heart of Dublin 8.

The building, which currently accommodates several key public offices and support facilities for two Government Departments, is centrally positioned and easily accessible, with strong public transport links.

Having previously leased the site, the OPW's acquisition removes ongoing rental costs. Savings on rent are projected to fully cover the purchase price in under twelve years, delivering significant annual savings and a strong return on investment for the State.

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Minister of State with responsibility for the OPW, Kevin "Boxer" Moran, expressed his support for the acquisition, which aligns fully with the OPW statement of strategy and is a very positive example of proactive asset management by the OPW team.

Benefits include long-term security of high-quality, centrally located office space that supports a sustained commitment to public-facing government services in Dublin 8; backing workforce and service delivery needs; an immediate reduction in OPW rent with a payback equivalent to less than 12 years' rent; leveraging upcoming lease events to secure value for money; and enabling a roadmap for investment in the owned asset to meet climate action obligations.

The purchase of 'The Guild Building' underscores the OPW's commitment to strategic management of State property, balancing financial gains with the long-term accommodation needs of government departments.