The Irish Rugby Football Union (IRFU) is seeking expressions of interest for a development partner to design, build, finance and operate a landmark hotel and residential scheme on Lansdowne Road in Dublin.
The opportunity is offered under a long-term ground lease, with the IRFU retaining the freehold interest in the site, which is located adjacent to the Aviva Stadium.
The Lansdowne Quarter scheme will comprise a 257-key hotel and 77-unit residential apartment development, in addition to extensive food and beverage and conferencing facilities.
The site is being brought to the market without planning permission, providing the development partner with the flexibility to shape the final design, configuration and positioning of the scheme.
Paul Collins, head of hotel brokerage UK and Ireland at CBRE, which has been appointed by the IRFU to seek proposals from developers and operators for the development, said: “This is a superb opportunity to deliver a flagship scheme in one of Dublin’s most sought after locations, so we expect strong interest from both Irish and international parties. The combination of a stadium adjacent site, exceptional connectivity and strong underlying demand fundamentals in both the hotel and residential sectors makes Lansdowne Quarter a compelling proposition for developers and operators alike”.
Darragh Deasy, director, development land at CBRE, added: “The scale of the development, combined with the flexibility around planning and design, allows a partner to create a scheme that fully responds to both market demand and the character of the surrounding area.”
Kevin Potts, CEO of the IRFU, said “This process allows the IRFU to unlock the long-term potential of a strategically important site, while also retaining ownership of the land. Importantly, the development will be wholly funded by the successful development partner. The resulting lease income will provide a long term and significant new revenue stream for Irish rugby that will be invested into all levels of the game across Ireland.
“We also recognise the wider value a scheme of this nature can deliver for the city more broadly. Additional hotel capacity and new homes are important elements of Dublin’s future growth, and a high quality development we hope will contribute positively to both.”
