THE LANDMARK CHQ Building in the heart of the IFSC has been sold by the Dublin Docklands Development Authority (DDDA) for just over €10 million.
The Grade One listed building was redeveloped by the DDDA in 2005 for a cost of approximately €45 million but has struggled to maintain high occupancy levels. 82 per cent of the development was vacant when it was put on sale.
The property was bought by former Coca-Cola Company CEO Neville Isdell, who says that the initial plan is to make improvements to the building before deciding on its long-time use.
I am thrilled with the opportunity to develop and improve this wonderful, iconic and historic building. We will be evaluating and developing a number of ideas over the coming months and engaging with the relevant local and national public bodies to assist our objective of establishing a new distinctive destination for Dublin.
Commercial agents Lisney managed the sale of the property and said that there was intense competition for the purchase with formal offers made by ten potential buyers.
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