Europa Capital has purchased Dublin’s Clerys building, with Core Capital and Oakmount as local partners and shareholders.
The former department store will be transformed into a major new retail, restaurant and office destination.
Financial details were not disclosed.
The building is currently vacant, and is being acquired with the consent to extend its total surface by almost 3,800 m2. Europa Capital also intends to restore its historic features, including its colonnaded façade and clock.
On completion of the redevelopment, the Clerys building will comprise a new panoramic rooftop restaurant, dining and drinking facilities at ground level, retail units, and approximately 8,200 m2 of Grade A office space.
The site also includes a former warehouse on Earl Place, which is planned to be redeveloped into a new hotel.
Europa Capital, a member of Rockefeller Group International, is a real estate fund management group operating across Europe.
