The famous property will be getting a very new look.
International investor Europa Capital – with local partners Core Capital and Oakmount – have bought the Clerys premises on O’Connell Street, Dublin from the Natrium consortium for a figure that’s in the region of €63m.
It’s reported that the new owners will follow through on the plans to redevelop the property by adding offices, a rooftop restaurant, retail units, leisure facilities and a boutique hotel.
There’s also planning permission to extend the building by more than 40,000 square feet.
Despite the protestations of those employees that lost their jobs when the department store was sold in 2015, Dublin City Council approved of these plans.
Back in 2015, Clerys was restructured and eventually closed down, initially as part of a receivership deal, before being bought by the company Natrium for €29 million.
Europa Capital have a wide-ranging portfolio of properties that include major developments in the UK, France, Germany and Spain.
With regards to the plans for the area, here’s what’s being envisioned.
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