Vicar Street hotel site goes on sale priced in excess of €12m

The Vicar Street Hotel site in the Liberties area of Dublin has gone on the market with a guide price in excess of €12 million.

Harry Crosbie, owner of the Vicar Street music venue, secured full planning permission for an eight-storey, 185-bedroom hotel on the site in 2019 despite considerable local opposition.

Construction on the hotel was due to commence shortly after the development received the go-ahead, with a view to completion the following year. However, this was delayed, largely as a result of the coronavirus pandemic.

The hotel, which will include a rooftop bar and restaurant with outdoor terrace, will be located on a site in one of Dublin’s most historic areas and close to both the city centre and the planned Guinness St James’s Quarter development.

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"The Vicar Street Hotel site is an exclusive opportunity for parties to develop a boutique/lifestyle hotel in one of Dublin's most vibrant and developing areas," said Alexandra Sheeran, senior analyst at CBRE.

“There is strong demand for Dublin city-centre hotel development opportunities that have been offered for sale recently and we continue to see strong pent-up demand from international parties looking to invest,” she added.

While the development has faced opposition, it has had its supporters, including Fáilte Ireland, which made a submission with Dublin City Council in support of the application.

Mr Crosbie last year announced plans for a new Vicar Street South music venue, in Gorey, Co Wexford.

The developer started his career in haulage, following in the footsteps of his father and grandfather. But he is better known now as a venue owner, having founded the Point Depot (now known as the 3 Arena), Vicar Street in Dublin, the Bord Gáis Theatre and the Convention Centre Dublin.