Irish developer Pat Crean has acquired the former Apollo House site in Dublin for over €50 mln.
The sale was handled by Savills on the instruction of Simon Coyle and Tom O’Brien of Mazars.
Situated in the heart of Dublin city centre, the 0.72 acre site comes with full planning permission for a 10-storey over basement predominately office building extending to 12,620 m2. 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.
'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,' commented Mark Reynolds, director of development and consultancy at Savills Ireland. 'There is still strong demand in Dublin for quality office stock in good locations, and The Apollo Dublin certainly meets this criteria.'