The adjoining sites of the former Jury’s and Berkeley Court hotels are to be offered for sale internationally within the coming weeks.
The near seven acre combined site became one of the most expensive in Ireland’s real estate history when developer Sean Dunne bought it at the height of the market for €380m in 2005.
Irish Times reports that the properties are likely to sell for between €120m and €150m - and Savills and Eastdil Secured will handle the sale.
Mr Dunne proposed the building of a 37 storey tower on the site during the Celtic Tiger - these plans were rejected by Dublin City Council in October 2007.
Bord Pleanála has granted a 10-year planning permission in 2011 for this site to be redeveloped into a complex that includes 11 interlinked residential blocks, and a 150 bedroom hotel.
While the vision of a 37 storey block will not be realised, individual apartment blocks will be up to 10 storeys.
The development is likely to include private, semi-private and public open spaces - a winter garden, a raised courtyard garden and a public plaza.
The two hotels on the site are currently operated by Dalata on behalf of Ulster Bank and Rabo Bank.
Sean Dunne is currently appealing the High Court’s decision to refuse to set aside his Irish bankruptcy.
