Di­a­geo to trig­ger ma­jor new city cen­tre de­vel­op­ment on St James’s Gate site

Sunday Independent (Ireland) - Business & Appointments - - FRONT PAGE - Sa­man­tha Mc­caugh­ren

DI­A­GEO is poised to trig­ger the de­vel­op­ment of land at its iconic St James’s Gate site in Dublin in a move which would lead to the cre­ation of a new quar­ter in the city.

The land­mark project at the home of Guin­ness would trans­form the wider Dublin 8 area and would be one of the largest de­vel­op­ments in the heart of the city in re­cent times. Sources said that more than 10 acres had been ear­marked for de­vel­op­ment, with a num­ber of op­tions un­der con­sid­er­a­tion.

There is scope for hun­dreds of new homes in the lo­ca­tion, but it is en­vis­aged that there will be res­i­den­tial, com­mer­cial and leisure el­e­ments to the mas­ter­plan. Pro­tect­ing listed struc­tures will be a key pri­or­ity in the pro­pos­als.

It is un­der­stood that John Kennedy, Di­a­geo pres­i­dent for Europe, Rus­sia and Turkey, has been ac­tively work­ing on the project.

A spokesman for Di­a­geo said: “We have al­ways looked to the fu­ture at St James’s Gate, and we have in­vested ex­ten­sively in our brew­ing oper­a­tions, with a €170m new Brew­house, and have this year an­nounced am­bi­tious plans for the ex­pan­sion of the Guin­ness Store­house and a new dis­tillery.

“These de­vel­op­ments mean there are parts of St James’s Gate that are no longer needed for brew­ing, and we con­tinue to ex­am­ine and ex­plore the fu­ture po­ten­tial uses of these lands and build­ings.”

Di­a­geo an­nounced in July that Guin­ness Store­house was plan­ning a €16m ex­pan­sion plan, which would see the Grav­ity Bar dou­ble in size.

In Jan­uary, it an­nounced that it would in­vest €25m over three years in de­vel­op­ing a new dis­tillery at St James’s Gate. It will pro­duce a new blended Ir­ish whiskey, called Roe & Co.

Prior to the re­ces­sion, Di­a­geo had planned to sell part of the Dublin site, but this was shelved when the prop­erty mar­ket crashed.

The sale of land at St James’s Gate, Kilkenny and Dun­dalk had been ex­pected to net the com­pany €500m.

The Dublin prop­erty mar­ket has re­bounded and in re­cent months and years a raft of new ho­tels have been given per­mis­sion to de­velop in Dublin 8, while de­mand for prop­er­ties in the area has grown strongly.

Most re­cent fig­ures for Di­a­geo show that Ir­ish and over­all Euro­pean sales for Guin­ness grew by 2pc, which was driven by the con­tin­ued suc­cess of Hop House 13 Lager.

Newspapers in English

Newspapers from Ireland

© PressReader. All rights reserved.