Europa Capital has agreed to purchase one of Dublin’s most iconic landmarks, the Clerys building, with local partners and shareholders, Core Capital and Oakmount. It is intended that the former department store will be transformed into a major new retail, restaurant and office destination in the heart of the city of Dublin.
Prominently located on Dublin’s premier thoroughfare, O’Connell Street, this iconic property is currently vacant and is being acquired with an implementable planning consent to extend the building to c 181,450ft² (currently 137,799ft²). Europa intends to sympathetically transform the Clerys building and to fully restore its many well-known historic features including its collonaded facade and famous clock.
On completion of the redevelopment, the Clerys building will comprise a spectacular new panoramic rooftop restaurant, attractive retail units on O’Connell Street (over the lower ground, ground and first floors), further dining and drinking facilities integrating with the street at ground level, as well as 88,674ft² of Grade A office space.
Once complete, Clerys will create around 400 new employment opportunities in addition to the 750 construction jobs it will provide during the development.
The site also includes a former warehouse on Earl Place which is planned to be redeveloped into a new hotel, which is expected to create additional jobs and further transform the area.