Bord Gáis Energy Theatre On the Market
Published on Jul 9 2014 12:52 PM in General Industry
Harry Crosbie's Bord Gáis Energy Theatre has been put on the market today by CBRE for €20 million, on the instructions of the receivers at Grant Thornton.
The profitable theatre opened in 2010 as the Grand Canal Theatre, at a cost of €80 million. It was renamed in March 2012 to the Bord Gáis Energy Theatre in a naming rights agreement which is set to last until 2018.
The theatre is operated by entertainment firm Live Nation, whose lease is believed to be due to continue for several more years.
The purpose built facility has enabled many international musicals, plays and productions to be staged in Dublin, which was not previously possible due to a lack of a suitable venue. The theatre has hosted nearly 1,200 performances and regularly attracts large audiences. It has a seating capacity of over 2,100 people, a full orchestra pit, excellent backstage and technical facilities, extensive bar facilities and it is in an excellent location, in the heart of Dublin's docklands.
In 2013 it generated over €8 million in revenue, which is an increase of 6 per cent on the previous year.