Convention Centre Dublin To Go To Auction
Published on Aug 5 2014 2:30 PM in General Industry
The value of the Convention Centre Dublin has elevated significantly owing to the prospect of international investment. Market analysts regard the property as likely to fetch approximately €100 million at auction.
A number of pension funds are likely to have had their interests piqued when the licence to operate the centre was put up for auction last week, as it would represent a low-risk, low-return investment.
One prominent bidder is expected to be the Ontario Teachers' Pension Fund, which is one of the world's largest funds of its kind.
Potential buyers have been advised that offers below €80 million will not be considered, and that the €100 million mark may very well be reached.
The landmark building in Dublin’s IFSC was built under a so-called “public private partnership”, meaning the building is owned by the state through the Office of Public Works.