Signs of city core recovery
The proposed sale of the Clarion Hotel for over €30m will concentrate investors’ minds, with a 7.6% return on a blue-chip four-star hotel acquisition, while prime retail boulevard St Patrick’s Street is firmly poised for occupier recovery and rebalancing.
The grant of planning for Cleary Developments €50m redevelopment of the former Capitol cinema site with St Patrick’s Street profile for retail and offices — and food innovation centre uses next to the English Market on Grand Parade — brings a large quality building footprint to possible occupiers like Zara and House of Fraser, as well as possibly to whoever takes over Arnott’s in Dublin.
