With the number of visitors to Dublin’s south docklands continuing to grow following the easing of Covid-19 restrictions, the sale of one of the few secure car parks in the area is expected to appeal to a wide range of operators and investors. Located directly underneath the landmark Bord Gáis Energy Theatre, the Grand Canal Square Car Park is being offered to the market by agent Colliers at a guide price of €18 million.
While John and Bernie Gallagher’s Crownway Investments may well be interested in securing control of the facility given their existing ownership of the theatre, the combination of the car park’s forecasted net income of €900,000 for 2023 and Dublin City Council’s restrictions on future car parking provision in the city’s south docklands should see strong competition from a number of parties.
Grand Canal Square car park is located at the west end of the Grand Canal Dock, directly underneath the so-called “red forest” of Grand Canal Square. The entrance is overlooked by the Bord Gáis Energy Theatre and the five-star Marker Hotel. Built in 2009 as part of Chartered Land’s wider development of the Grand Canal Dock area, it extends to around 10,000sq m and features fully-automated barriers, payment machines and floor-to-ceiling heights of 2 metres. The car park, which operates on 24/7 basis, comprises 161 marked car-parking spaces and is one of the main underground car parks in Dublin city centre, facilitating convenient access to the city’s fast-growing south docklands and beyond.