It was announced today that the former Apollo House site in Dublin has been acquired by Pat Crean & Partners for a sum in excess of €50m. The sale was handled by Savills on the instruction of Simon Coyle and Tom O’Brien of Mazars.
Situated on Tara Street, the 0.72 acre site comes with full planning permission for a 10-storey over basement predominately office building extending to approx.12,622 sq m (135,863 sq ft). The grant of planning permission allows for ground floor retail, café, bar and restaurant units. Demolition of the former Apollo House has already taken place.
Designed by award winning architects Henry J. Lyons and MOLA, the new building will feature a double basement providing 40 car parking spaces and 166 bicycle spaces, with associated shower and toilet facilities. A wrap-around terrace on the eight-floor will give panoramic views of the Dublin docklands, with additional outdoor space on most of the upper levels.
Commenting on the opportunity, Director of Development and Consultancy at Savills Ireland, Mark Reynolds said, "Given the fact this is one of the few sites with development potential remaining in Dublin’s CBD, it was no surprise that demand from a variety of buyers was strong, which ultimately led to a very expedient sales process. There is still strong demand in Dublin for quality office stock in good locations, and The Apollo Dublin certainly meets this criteria."