Having failed to secure a buyer at a guide price of €12 million in October of last year, a site with full planning permission for a boutique hotel next to the famous Vicar Street venue is being offered to the market once more for the lesser figure of €10 million.
With a seated capacity of 1,050, Vicar Street, developed by entrepreneur Harry Crosbie, has been Irish music venue of the year five times between 2008 and 2019. Whoever develops the next-door hotel will be able to offer access to premium tickets for guests.
The planning permission covers a 185-bedroom hotel with a rooftop bar and restaurant with outdoor terrace in the heart of Dublin 8 and within walking distance of all the city centre’s major tourist attractions.
The site itself is located in the centre of the Liberties, one of Dublin’s most historic and vibrant areas which dates back to the 10th century. The Liberties has witnessed significant new construction and redevelopments in recent years, predominantly in the form of hotels, purpose-built student accommodation, residential schemes and office buildings. Notable schemes in the immediate area include the regeneration of Newmarket Square, the redevelopment of the Digital Hub complex and the upcoming Guinness Quarter at St James’s Gate.
The hotel’s developer, meanwhile, will have an opportunity to collaborate with the Vicar Street music venue and benefit from the use of the registered name, Vicar Street Hotel, while also offering a VIP club for artists playing at Vicar Street, with the potential use of the facility for pre- and post-gig parties.
Links between the hotel and the venue are to be strengthened through the promotion of a “Rock-and-Room” concept for visitors.
In addition, artists and their entourages when booking the venue will be offered premium room packages, with a view to building a reputation and association between the hotel and major international stars. The Vicar Street Hotel brand is to be included in all of the music venue’s media promotions.
Alexandra Sheeran, associate director at CBRE, says: “The Vicar Street Hotel site is a superb opportunity for parties to develop a lifestyle hotel in one of Dublin’s most vibrant and developing areas. Notable development schemes in the immediate area are the regeneration of Newmarket Square, the redevelopment of the Digital Hub complex and Guinness Quarter at St James’s Gate.”
