Diageo is seeking a development partner for the transformation of 5.1 ha of its famous St James’s Gate site in Dublin, home to the Guinness brewery.
Following significant investment in the site in 2011 and advances in technology, Diageo can now brew more beer in less space.
As a result, it is aiming to transform 5.1 ha of the 20 ha site into a mixed-use development, dubbed St James’s Gate Quarter.
The drinks giant will now seek a development partner for the project, with the tender process beginning today.
This is expected to take 18 months to complete, beginning with PQQs before more detailed shortlisting next year. The process will be managed by Deloitte Real Estate.
The development will be phased, with detailed plans announced once a partner is in place.
A feasibility study submitted to Dublin City Council suggested the site could deliver 63,000 sq m of office space, 5,000 sq m of retail units and 22,000 sq m for hotel and leisure.
The site, located 2 km west of Dublin city centre in the Liberties area, could also include 500 new homes within a 48,000 sq m residential area.
Diageo plans to retain ownership and operation of a number of key buildings in the quarter, including the famous gate itself and Arthur Guinness’s residence.
Diageo Ireland country director Oliver Loomes said: “We’re committed to a long-term sustainable future at St James’s Gate and are delighted to be opening streets, creating spaces and generating opportunity.
“We’re transforming our centuries-old vat houses, brew houses and cooperages into incredible spaces that will house and inspire a new generation of entrepreneurs, residents and visitors, dreamers and doers.”
Diageo beer and packaging director Colin O’Brien added: “While this will be a long-term project, and we’re at the very early stages, this is something that we’re all very excited about and we are committed to doing it right.”