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Cultural, Food And Beverage Outlets Planned For Buildings On Dublin's Earlsfort Terrace

Published on Oct 12 2021 10:57 AM in General Industry tagged: Trending Posts / Deloitte / IPUT / Earlsfort Terrace / Garryard House / McGarrell Reilly Group

Cultural, Food And Beverage Outlets Planned For Buildings On Dublin's Earlsfort Terrace

Cultural, food and beverage outlets are being planned for a newly-purchased building and an adjacent property on Dublin's Earlsfort Terrace.

As reported by The Irish Times, Irish commercial real estate investment and development group Iput has acquired 25 Earlsfort Terrace, which is next door to the 65,000 square foot Deloitte House property, which Iput purchased two years ago, with a view to redeveloping the entire site to "bring new life" to the area off of St. Stephen's Green.

The company is reportedly understood to have paid approximately €20 million for the five-storey, 16,000 square foot 1970s 25 Ealsfort Terrace building, which is called Garryard House, and which was reportedly purchased from the McGarrell Reilly Group.

Iput Chief Executive Statements

Iput chief executive Niall Gaffney reportedly said, "There's a real opportunity here to build something of a modern statement building that's as carbon-neutral as possible. Deloitte still have a lease on the main building that has five years to run. We have time to get this right."

Gaffney reportedly said that Iput is planning to engage with the National Concert Hall, which is embarking on a €78 million redevelopment; Dublin City Council; and the neighbouring Conrad Hotel, the owner of which, Archer Hotel Capital, received planning permission to extend the property last week.

Gaffney reportedly said, "This area has the capacity to become a major cultural hub. We'd like to have a porous ground floor design that would bring people and life into the space, which would have cultural, food and beverage outlets. We want to bring new life to the area."

Planning To Cut Carbon Emissions

Iput reportedly said in September that it is planning to cut carbon emissions from new developments and major refurbishment projects by 40% under its plans to achieve net zero by the end of the decade, and that it is targeting a 33% reduction in the energy intensity of its managed portfolio and moving to 100% renewable energy for occupier electricity by 2025.

Iput reportedly said that it is planning to use carbon-removal initiatives where the impact is verified to offset residual emissions that it cannot address directly, and offsets can reportedly include purchasing carbon credits from the likes of mature tree-planting projects or sophisticated carbon-removal technology.

© 2021 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.

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