The iconic building at 33 College Green, previously the premises of Ulster Bank in the heart of Dublin, is set to undergo a transformation into a stylish, boutique hotel. This follows its purchase by prime city hoteliers, Brian and Sally McGill from Donegal. The Irish Times cites that the pair struck a deal for the former banking establishment at approximately €17 million, a sum exceeding the initial €3.5 million guide price set by agent Cushman & Wakefield in September. The acquisition occurred amidst bids from several interested parties with the McGills successfully securing the deal.
Currently, the McGill family boasts ownership and management of other distinguished hotels in Dublin including the Harcourt Hotel, Harrington Hall and the four-star Iveagh Garden Hotel, all situated along the well-known Harcourt Street.
Situated on College Green, the building #33 commands attention with its prime location opposite both Trinity College Dublin and Bank of Ireland’s high-profile outlet in the former Irish parliamentary buildings. The property, primarily constructed in 1975, is a six-storey, basement-inclusive office building. Part of its façade overlooking College Green is listed under the Dublin City Council’s Record of Protected Structures, notably “the Ulster Bank facade, inclusive of the front-domed roof and adjacent chimney stacks.”
This real estate has been designated Z5: City Centre under the Dublin City Development Plan 2022-2028. The aim of this classification is the consolidation and advancement of the central city area, while simultaneously enhancing and safeguarding its iconic architectural character and style. The zoning permits numerous potential uses, such as hotel, office, residential and retail development.
Prior to the property sale, a preliminary study conducted by Reddy Architecture + Urbanism indicated that the building could be feasibly converted into a 147-room hotel or a 141-room hotel complete with meeting facilities.
While the building could also be used for retail and office purposes, its potential as a hotel is bolstered by its convenient location within walking distance of major city landmarks including Grafton Street, Temple Bar, Trinity College and St Stephen’s Green. The property also benefits from superior transport connectivity including the Luas green line, the Dart at Pearse Street station and multiple Dublin Bus routes.