Apollo House site in Dublin goes on sale for £35.8m
THE former Apollo House site in central Dublin has being put up for sale by receivers appointed by the Republic’s bad bank Nama, which is understood to be seeking €40m (£35.8m).
Apollo House hit the headlines in the winter of 2016/17 when it was occupied by housing campaigners and used as an unlicensed shelter for homeless people.
Since then the building has been levelled and now the 0.72acre site, with planning permission for a 10-storey office block, has been put up for sale on the instruction of Simon Coyle and Tom O’Brien of Mazars. Estate agent Savills has been appointed to handle the deal.
Market sources said the sellers will expect to fetch in excess of €40m for the site, at the corner of Tara Street and Poolbeg St in Dublin 2.
Mark Reynolds of Savills Ireland said the site is one of the last of its scale available in Dublin city centre.
“There are very few sites with development potential remaining in Dublin’s central business district, so this truly is one of the last opportunities to acquire a site of scale in a location where demand for office space is strong,” he said.
“We expect there to be interest from a variety of buyers, including developers, REITs, pension funds and investors.” Architects Henry J. Lyons has designed the new scheme, with a double basement and a wrap-around terrace on the eighth floor.