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RIAC and Tetrarch Capital seek to redevelop Dawson Street buildings

RIAC News RIAC and Tetrarch Capital seek to redevelop Dawson Street buildings

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RIAC and Tetrarch Capital seek to redevelop Dawson Street buildings

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1st December 2017: The Royal Irish Automobile Club (‘RIAC’ or ‘the Club’) has agreed heads of terms of an agreement with Tetrarch Capital Limited (‘Tetrarch’) for the redevelopment of the Club’s premises on Dawson Street. The proposed scheme is subject to approval by members of the RIAC at a meeting in January 2018, and Tetrarch receiving satisfactory planning permission.

Founded in 1901, the RIAC is a private members’ club located at Nos 33-34 Dawson Street with the site extending to Anne’s Lane, the rear of 8 St Stephen’s Green and 1-3 Joshua Lane. It is adjacent to the 36-bedroom Dawson Hotel at Nos 35-36 Dawson Street, which was purchased by Tetrarch in 2015.
The proposed scheme will cover Nos 33-36 Dawson Street and several buildings to the rear. It will deliver significant upgrades and improvements to the Club’s buildings so as to materially enhance the experience for all of its members through extensively improved amenities. Facilities will include a new members’ restaurant, bar, reading room, meeting rooms, offices for the RIAC and Motorsport Ireland, a new location for the Club’s Guinness Seagrave Library, and a new 61 space carpark, all to be delivered in turn-key condition. It will also see 77 new bedrooms added to the hotel, which will be operated by Tetrarch and use the RIAC brand in its name. The heritage of the RIAC will inspire the interior design throughout the redevelopment, which will incorporate distinctive and classic images, materials, colours and memorabilia from the automobile world.

A stunning new glazed atrium will house a central courtyard lobby and shared reception for the new Club and hotel, linking the key areas of each facility with lift access to be provided to all areas of the proposed development.

The proposal to RIAC members follows extensive research into potential options for the redevelopment and refurbishment of the Club’s buildings. The redevelopment is intended to guarantee the long-term future of the Club and deliver sustainable, best-in-class facilities for all members of the RIAC, whilst respecting and showcasing the buildings’ unique historical features.

Arthur Collier, Chairman of The Royal Irish Automobile Club said:
“This exciting proposal is about future-proofing the Club to ensure that in the long-term we can deliver the quality of facilities that our members expect, and attract significant numbers of new members in future. The RIAC Board is very excited about what the proposed scheme will deliver, and is very confident that in Tetrarch Capital we have a partner who can execute on an ambitious redevelopment of our Dawson Street home to the mutual benefit of both parties.”

Michael McElligott, Chief Executive of Tetrarch Capital said:
“We are delighted to be partnering with such an historic institution as the RIAC to create a scheme that will deliver enhanced facilities for members and a hotel of truly unique character. Together with members of the RIAC Board and our excellent design team, we have worked diligently to create a scheme that will respect the original character of the site, while delivering a stunning design and revitalised set of modern facilities for Club members and hotel guests.”

Assuming approval from Club members and satisfactory planning permission is obtained, it is envisaged that the RIAC would vacate the Club by the end of June 2019 and that the redevelopment works would be completed within 24 months.

The proposed scheme has been designed by McCauley Daye O’Connell Architects, assisted by Molly Associates Conservation Architects with Ganley Waters acting as property advisors to the RIAC.

Written by admin