Hines, Peterson to Revamp Iconic Building in Ireland

The companies are planning to transform the former Central Bank headquarters in Dublin into a mixed-use destination incorporating retail, restaurants and a rooftop hotel.

A new vision for the former Central Bank headquarters in Dublin
A new vision for the former Central Bank headquarters in Dublin

Hines and Peterson Group have submitted an application for Central Plaza, a proposed mixed-use property in Dublin, Ireland, which will transform the former Central Bank headquarters as a new landmark destination in the city’s center.

“The Central Plaza proposal represents a significant investment by Hines and Peterson in the creation of an outstanding mixed-use scheme that will re-invigorate this iconic city center building located in the heart of our capital,” Brian Moran, Hines Ireland’s senior managing director, said in a prepared release. “Our application will include an exciting mix of retail shopping, cafés and restaurants at street and plaza level and in a newly created lower plaza area.”

Originally designed by award-winning architect Sam Stephenson more than 40 years ago, the building was sold to Hines and Peterson a few months ago, once Central Bank relocated to new premises on North Wall Quay. 

A dynamic look

The plan for the new development would be a building and surrounding area, incorporating retail, restaurants and café uses at street and basement level, and a two-story rooftop hospitality destination and viewing area.

The proposal also calls for an expansion of the existing plaza and the creation of a dynamic new street scape toward College Green and along Fownes Street and Cope Street, creating a pivotal new steppingstone between the key retail and tourist destinations of Grafton Street, College Green and Temple Bar.

“Another key aspect of the proposal is the enhancement of the existing plaza that surrounds the building,” Moran said. “Upon completion of the redevelopment works, the area will reopen to the public and with the removal of the railings installed in 1998, the plaza will become a larger and even more vibrant public space.” 

Additionally, the finished project would include a new 20,000-square-foot rooftop destination within the building’s existing roof space, that would provide unique 360° views of the Dublin skyline. It will be encapsulated within a new signature glazed roof, designed to significantly enhance the architectural language of the existing building.

Over the last 26 years, Hines has grown its European platform to include a presence in 35 cities in 10 countries and Hines Europe currently has approximately $15.7 billion worth of assets under management in Denmark, France, Germany, Ireland, Italy, Norway, Spain and the United Kingdom. 

Image courtesy of Hines