Pan-European real estate investment manager Europa Capital has agreed to buy the Clerys building in Dublin with local partners and shareholders Core Capital and Oakmount.
The company plans to transform the former department store into a new retail, restaurant and office destination.
Located on O’Connell Street, the property is currently vacant and is being acquired with an implementable planning consent to extend the building to just over 180,000 sq ft (it is currently nearly 138,000 sq ft).
Europa intends to fully restore its many of the Clerys building’s historic features, including its
colonnaded facade and famous clock.
On completion of the redevelopment, the building will comprise a new panoramic rooftop restaurant, retail units on O’Connell Street (over the lower ground, ground and first floors), further dining and drinking facilities at ground level, as well as 88,674 sq ft of office space.
The site also includes a former warehouse on Earl Place, which is to be redeveloped into a hotel.
