Re: Re: Government wants to repossess landmark College Green ban
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I think the government need to be very careful; they need to avoid a perception that the Irish state got prefential treatment from other creditors; if the state wants to acquire 2 College Green they should zone it cultural use; it has no future in its current use in the context of emerging markets dicatating energy costs.
Have a valuation done and CPO it; whilst the site would be extremely valuable as a cleared site; thankfully it is not cleared and contains Grattans Parliment; with a cultural use zoning and spot listing that expressly prohibits a conversion to anything of any value such as hotel; it would be entirely possible to prove that such a buillding has a signifiant negative value in financial terms. The time to act is now before values recover; one can never confuse financial and cultural value but when either dips it is always good to take advantage with the long term in mind… For what its worth I wouldn’t spend anything on this building other than a soft strip of bank counters added in recent decades and repaving the carpark in to a pedestrian space
If no action is taken this will end up as a hotel or nightclub and either use will over decades of unauthorised alterations and playing of the grey areas by occupiers see the special little details destroyed.