Irish State Acquires O’Connell Street Site for €80m to Advance MetroLink
The Irish state has purchased a strategic site on O’Connell Street from a UK property group for €80 million to facilitate the construction of the MetroLink. This acquisition, which includes the landmark Carlton Cinema site, secures a critical footprint for what is planned as a primary hub for the new high-capacity rail line in Dublin city center, according to reports from The Irish Times and the Irish Independent.
Securing the Carlton Cinema Site for MetroLink
The transaction focuses on a portion of O’Connell Street, specifically the site of the former Carlton Cinema. According to the Irish Independent, the state acquired the land to ensure the project has the necessary space to build a key MetroLink hub.
The Role of the O’Connell Street Hub in Dublin Transit
According to RTE, the acquisition of this specific site is essential for the engineering requirements of the underground station, including the placement of shafts and entrance points.
Broader Commercial Context: Hammerson and the Ilac Centre
Parallel to the MetroLink developments, UK property giant Hammerson has acquired the Ilac Shopping Centre, as reported by the Irish Examiner.
Project Status and Next Steps
- Purchase Price: €80 million.
- Location: Carlton Cinema site, O’Connell Street, Dublin.
- Seller: UK-based property group.
- Purpose: Construction of a key MetroLink hub and interchange.