A Central Plaza may be on the way for Dublin city centre
US real-estate giant Hines, along with its Hong Kong-based partner Peterson, will this week submit a planning application to Dublin City Council that will reposition the former Central Bank HQ as a new landmark destination in Dublin’s city centre.
The new vision for the building and surrounding area sees the creation of a mixed-use scheme, known as 'Central Plaza', which will incorporate retail, restaurants and café uses at street and basement level, as well as the creation of a two-storey rooftop hospitality destination and viewing area.
The expected cost of the redevelopment at the iconic building is €75m, and the planned central plaza has the potential to accommodate 1,000 office workers and create more than 300 full and part-time retail and hospitality jobs upon completion, according to Hines.
"The Central Plaza proposal represents a significant investment by Hines and Peterson in the creation of an outstanding mixed-use scheme that will reinvigorate this iconic city centre building located in the heart of our capital," Brian Moran, senior managing director of Hines Ireland, said.
Enabling works commenced last month at the former Central Bank site, with John Paul Construction currently progressing a sensitive refurbishment programme of the existing office space.
The planning application is part of an overall masterplan that includes the adjoining properties 6-8 College Green, No. 9 College Green, and both the Annex and Commercial buildings on Dame Street, Hines said.
Designed by award-winning architect Sam Stephenson in the 1970s, the former Central Bank building was acquired by Hines and Peterson earlier this year, following the Central Bank’s relocation to new premises on North Wall Quay.