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# (gas) firesale
The Bord Gais Energy Theatre is on sale for €20m
The Daniel Libeskind-designed theatre cost €80 million to develop.
THE BORD GAIS Energy Theatre in Dublin’s docklands is being put on sale with a €20 million guide price.
The 2,111 capacity Daniel Libeskind-designed theatre is being put on sale by the building’s receivers Grant Thornton through commercial real estate agent CBRE.
The receivers were placed on the venue by Nama.
The building, which cost €80 million to develop, will be of interest to a number of different types of buyer says CBRE executive director Sean O’Brien.
He says that some potential buyers will be looking for a “trophy asset” in Dublin’s prestigious Docklands area. Concert operators who are looking to enter the Irish market also likely to show an interest.
The venue is currently operated by the multinational entertainment company Live Nation.
The building was known as the Grand Canal Theatre when it opened in 2010 and was renamed as the Bord Gáis Energy Theatre in a naming rights deal in 2012 that was belived to be worth €4.5 million.
The companies behind the theatre and the Point Village complex, have been placed into receivership last year.
Last month Harry Crosbie issued legal proceedings against the Nama in an attempt to block the agency pursuing debts he allegedly owes and remove the receiver from the Bord Gais Energy Theatre.
Read: Receivers appointed to companies behind former Grand Canal Theatre and Point Village >
Read: Bord Gáis secures naming rights to Grand Canal Theatre >
