Sunday 4 December 2016

Andrews Lane theatre on block for €3.1m

Peter Flanagan Commercial Property Editor

Published 16/03/2016 | 02:30

The theatre was bought for €9.25m by a consortium at the height of the boom. Photo: Reuters
The theatre was bought for €9.25m by a consortium at the height of the boom. Photo: Reuters

The historic Andrews Lane Theatre in Dublin has been put up for sale for barely a third of the price it changed hands for in 2007.

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The theatre is on the market through the broker CBRE for €3.1m. That is a fraction of the €9.25m a consortium paid for the property at the height of the Celtic Tiger.

The theatre, which became on of the best known venues in the city through years closed in 2007 ahead of redevelopment, but those plans were put on ice after the property crash.

In recent years the theatre has seen a number of short-term tenants which have operated the property as an alternative bar and night club. It is being sold however with vacant posssession.

CBRE's Peter Garrigan, who is managing the sale, said he "expects the landmark building to attract a variety of bidders including owner occupiers and developers due to its favorable zoning and pivotal location in Dublin city centre."

Irish Independent

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