UK developer Summix Capital has bought Independent House, in Dublin, Ireland.
Independent House at 87/93 Middle Abbey Street, Dublin 1, was built in 1929, but has been vacant since 2003. It was the former home of the Independent Group newspapers and was also most recently owned by retailer Primark.
Summix plans to restore and transform the landmark building into a 280-bed student accommodation facility.
This extensive property comprises several buildings with a total floor area of approximately 10,600 square meters. It is on a site area of 0.29 hectares, between Middle Abbey Street and Princes Street and is also adjacent to O’Connell Street.
Niamh O’Connor, Executive Director with Summix Capital, says, “We are thrilled to acquire Independent House and very excited with the prospect of reinstating one of the city’s landmark buildings and establishing a new community in this area. The next chapter for Independent House will seek to bring modern purpose-built student accommodation into the heart of the city and to an area already seeing significant change and regeneration.
“Middle Abbey Street is a busy commercial district and stands at the focal point of Dublin’s public transport system, with Luas Red and Green lines and the city bus networks converging on our doorstep. This creates fantastic connectivity to all of Dublin’s college campuses and other city amenities, for our future student residents and which will greatly add to the quality of their overall living experience.”
The sale was handled by Savills Ireland. Ebba Mowat, who brokered the deal, says, “This transaction represents a significant development for Dublin’s North City Centre, aligning perfectly with plans to rejuvenate and make full use of historical sites. We are excited to see Summix bring their expertise in development to this prominent Dublin landmark.”
