Marlet acquires Apollo House site in deal worth more than €50m
Developer Pat Crean’s Marlet Property Group has paid more than €50m to acquire the site of the former Apollo House office block in Dublin city centre.
The details of the sale, which was handled by Savills on the instruction of Simon Coyle and Tom O’Brien of Mazars, was first revealed by the Sunday Independent.
The 0.72 acre site, which is located on Tara Street, comes with full planning permission for a 10-storey over basement office building extending to approx.12,622 sq m (135,863 sq ft).
The grant of planning permission allows for ground floor retail, café, bar and restaurant units, and demolition of the former Apollo House has already taken place.
The new building is expected to feature a double basement providing 40 car parking spaces and 166 bike spaces, and a wrap-around terrace on the eight-floor.