Saturday 20 December 2014

Licence to operate Dublin's Convention Centre up for sale

Published 31/07/2014 | 12:37

The National Convention centre in Dublin's Dockland
The new National Convention Centre in Dublin city centre

The license to operate the national Convention Centre in Dublin (CCD) has been put up for sale.

The landmark building in Dublin’s IFSC was built under a so called “public private partnership” that means the building is owned by the state through the Office of Public Works (OPW).

It was built by a firm controlled by Spencer Dock Development Company, a private company owned by developers Johnny Ronan and Richard Barrett of Treasury Holdings and the property developer Harry Crosbie, who then had a right to operate the building.

Spencer Dock Development is now under the control of liquidators Paul McCann and Michael McAteer of Grant Thornton which has now put the remaining 21 year operating licence up for sale.

Rubicon Infrastructure Advisors, a global advisory firm headquartered in Dublin, has been appointed as financial advisor for the sale process.

The operation is currently profitable.

They are selling a concession contract to operate and maintain the CCD, ownership of a 320-space car park underneath the building and the license to build and operate an approximately 330-bed hotel adjacent to The CCD. 

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