Apollo House site sold to Marlet for more than €40m
The site of the former Apollo House office block in Dublin city centre has been bought by developer Pat Crean's Marlet Property Group for more than €40m, the Irish Independent can reveal.
The deal, which is understood to have been agreed in recent days, will provide Marlet with a significant development opportunity adjacent to its property holdings on Townsend Street.
The company already has planning permission for the construction of College House, a Grade A office scheme on the site of the former offices of An Post and Screen Cinema.
Its purchase of the adjoining 0.72-acre Apollo House site gives it control of almost an entire block in one of the city centre's most sought-after locations.
Based on the size of the site, the €40m being paid by Marlet equates to a price of over €55m per acre.
Apollo House became a focal point for Dublin's homelessness crisis in December 2016 after it was occupied by activists supported by celebrities, including singer Glen Hansard.
Prior to offering it for sale this year, planning agents acting for Nama-appointed receivers, Mazars, wrote to Dublin City Council to confirm their intention to demolish it and the adjoining Long Stone Pub to make way for the construction of an 11-storey office building.