The Irish Times

Dublin's Burlington Hotel is expected to be redeveloped for shopping, offices, apartments and possibly a smaller hotel when it is sold at tender on March 28th. The 3.8-acre site will almost certainly be the most important and most expensive to come on the market in the Dublin area this year.The selling price will be over €275 million but, given that up to a dozen private equity firms, private banks and large developers are expected to pitch for it, the final figure could well be over €300 million. Pat Gunne of CB Richard Ellis, who is handling the sale, said yesterday that they would not be giving a guide price because of the multiplicity of options in relation to both the type and scale of the development that would replace the Burlington Hotel. The sale is being managed for the remaining Jurys Doyle shareholders (JHD Acquisitions) by Crownway Investments, the investment vehicle controlled by Bernie and John Gallagher. Mr Gallagher described the Burlington as "a stand alone site with independent access". In fact, it has more than 135 metres of frontage onto Upper Leeson Street, Sussex Street and Burlington Road which will give new owners the huge advantage of being able to accommodate a broadly mixed-use scheme.