Bord Gáis Energy Theatre on market for €20m

Bord Gáis Energy Theatre on market for €20m

Ireland's biggest theatre is up for sale with a €20m price tag.

The Bord Gáis Energy Theatre in Dublin, described as a 'trophy asset', is being sold by property firm CBRE on behalf of NAMA-appointed receivers Paul McCann and Stephen Tennant of Grant Thornton.

Designed by internationally renowned architect Daniel Libeskind, the theatrew was constructed by the Irish construction company Sisk and "finished to the highest of standards".

Originally opened as the Grand Canal Theatre, it was rebranded in 2012 as part of a deal that is in place until 2018.

The facility has a capacity to seat more than 2,100 people and is operated by Live Nation.

Since opening it has hosted 1,178 performances including some of the worlds most renowned productions which have included the Lion King, Wicked, War Horse and Swan Lake.

In 2012 the Bord Gáis Energy Theatre produced a total revenue of €7,649,438 which subsequently increased by 6% in 2013 to €8,099,106.

"We anticipate a strong level of interest from local and international investors and theatre operators," said selling agents CBRE.

"The market throughout 2012 and 2013 was dominated by the sale of prime office buildings.

"Investors are now actively seeking to invest in alternative assets such as residential, retail and leisure.

"The Bord Gáis Energy Theatre is a trophy asset which affords investors and operators a unique opportunity to acquire a world class specialist asset offering considerable growth potential."

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