The advertising hoardings have been erected outside and Jones Lang LaSalle (JLL) has been retained for the marketing, and it finally looks as if the home of the old Hume Street Hospital at 3-8 Hume Street, just off St Stephen’s Green in central Dublin may finally get a new lease of life. The 40,000 sq ft handsome terraced row of six buildings is being offered for sale by tender for about €3m, the tender date has yet to be set and once it is, the full sales listing will be available from JLL.
The building was bought by a NAMAed developer, Michael Kelly in 2006 for €30m – AIB is understood to be the lender. It is understood that the AIB loan was in fact NOT acquired by NAMA, and indeed it was AIB itself secured a €60m judgment, relating to various loans, against Michael in November 2011. JLL is not disclosing the identity of the current owner.
Whilst not in NAMA, the building came to attention on here as a result of the campaign to save the site from deprecations of vandals and the elements. The “Save Hume Street Campaign” initially sought to stop vandals and thieves damaging the building and removing original fittings including copper piping and lead flashing. The removal of the flashing led to severe water ingress and damage. The Campaign’s Facebook page is here where you will also find a treasure trove of photographs of the building, inside and out, which highlighted the damage being done to what is one of Dublin’s great historic buildings. There is also a website which sets out further information about the history and condition of the building.
Today, the Campaign welcomed the fact that the property is being sold by tender with a reported asking price of €3m which reflects the preservation requirements for the building – the building is protected both internally and externally. The Campaign said “Hume Streetwould suit a mixed use: cultural: museum, educational, office hub for related innovative business and most importantly a residential element, which is stipulated in the development plan. There are very few people living inDublin2 – one of the reasons the thieves and vandals were able to do so much damaged unnoticed.”
There doesn’t appear to be any shortage of office accommodation in Olde Georgian Dublin, and the adjoining property, No 2 Hume Street presently has over 20,000 sq ft of rental accommodation available through HT Meagher O’Reilly – see listings details here.
UPDATE: 11th May, 2012. There is an attractive brochure for the property produced by Jones Lang LaSalle. The closing date for tenders is 2pm on 25th May, 2012.
NAMA Wine Lake 
Why? Did they not pay the household charge?
Unnoticed? Sure they camped out in the Portico for weeks on end it was like tent city. Everything that was done was done in plain sight, everyone knew the building was being damaged and stripped. Hundreds of these buildings get vandalizsed and don’t know how many buildings I pass each day making a mental notes of how the buildings are going down fast! If you ring the Garda as I have on occasion. This is what you get. What’s your name? What’s your telephone number? Where do you live? What is your DOB? Then, can you come in and make a written statement about that? Ans. “No, I haven’t the time and I am not slightly impressed by these “scare them off tactics”.
Another building that is being wrecked is plain sight is the old tax office behind the Four Courts within view of the Bridewell well opposite it fact. They all pass the can from one to the other and eventually it is the tax payer who pays for the lot!
Thanks for posting NWL Our campaign is preparing a more formal press release. It is a mystery how Hume Street Hospital never went to NAMA.
Robert is right, there are buildings being stripped everywhere – not surprised if it happened near a Garda Station. The Gardai were looking at CCTV footage from the dept of justice – which backs onto Bell’s lane, behind the hospital. Afterwards we wrote to AIB saying that every day the roof was left uncovered would cost more to repair later The €3m price tag reflects that loss in value to the taxpayer.
Moving on: we are proposing both temporary and long term reuse of buildings like this.
In its current condition and with no planning approval, NAMA will be lucky to achieve the asking price. This was a situation wher the Agency could easily have added value but chose not to.
@WSTT, I believe – because campaigners to preserve the building contacted NAMA about thefts and damage, and NAMA, I understand disowned any responsibility for the building – that the building is not in NAMA, but as the Agency doesn’t generally comment on individual properties, we don’t absolutely know one way or the other.
@WSTT looks like a case of the NOT the ASsET MANAGEMENT AGENCY chocked,could not get the numbers the pencil so punted.
With ONE BILLION of approved allocated capital spend,the “model” rejected renovating preserving this historic listed building.Must be quite strict and conservative in debt analysis,why not share it?
Much more fun and frolics to fund say Mulryans spec. apartments in Bratslavisa or speculative development in London,that contribute to the preservation of a historic building in Dublin,creating value and jobs.
I think over 50% has been allocated to assist the construction industry overseas.
While Hume Street rots,stripped and vandalized,Eurovena in Bratislava soars,last time I checked the Slovak economy had hit shall we say a road bump,long way from flourishing.
“As an example of how to manage new development in emerging markets, it would be hard to improve on Eurovea. Sitting on the banks of the Danube in Bratislava, the now flourishing capital of the Republic of Slovakia, Eurovea brings a thoroughly modern mix of residential, retail, hotel and office accommodation to the edge of a historic city centre. With a new public square and a landscaped riverside park, Eurovea and its facilities have added a modern, urban sophistication to Bratislava and have quickly become integral to the life of the city, extending and broadening its appeal.”
http://ballymoregroup.com/developments/eurovea
It’s not just Hume Street. It seems the Irish developers’ legacy, and NAMA’s problems stretch to Berlin and Checkpoint Charlie as well!
http://www.irishtimes.com/newspaper/finance/2012/0416/1224314762802.html
@WSTT, I read that and am still uncertain what this story is about.
Irish-connected company acquires site in Berlin 20 years ago. Future development options still unclear. Plans require museum to be built, implicitly with German state-funding, and the funding is not available because Berlin city is broke. Meantime there’s outstanding rates on the site and the site is beyond used for low-rent activity considered unbefitting to its historical legacy. The loan to acquire the site is in NAMA.
What’s the story? Is NAMA to be criticised for not providing development funding? The site has lain undeveloped for two decades so NAMA can hardly be criticised for taking its time. And what is the position – the Irish Times cryptically reports ” two vacant sites at Checkpoint Charlie controlled – though not owned – by Mayo brothers” and “Michael Cannon said his company will pay outstanding rates of €400,000 and assume ownership before the foreclosure auction on May 10th, clearing the way for development.” and is there a foreclosure auction, and what does “assume ownership” even mean.
Very confused reporting.
Appears,NAMA rejected this loan and left it with AIB,they have approved and allocated to date over 500,000,000 in NEW capital to far flung exotic foreign places.
Should they not calculate the impact of job creation in Ireland and the
contribution to the visual attractiveness of Dublin in making these decisions.If they have exposure in the immediate are is a vandalized,crack house enhancing the value of their other holdings?
They need to come clean once and for all and disclose the methodoly utilized in advancing new capital,as a state body they have plans to spend over 1,000,000,000 of capital,with NO oversight checks or balances,while buildings like Hume street are allowed crumble.
How are their new loans performing,why project A over project B,time for the PAC to demand some accountability and clarity from NAMA.
Great responses RE investments in our own heritage which would led to jobs and innovation. Hume Street is right in a cultural cluster of RHA, National gallery, National archives and National library. Cultural tourism is the fastest growth area of the tourism market worldwide.
After the vandalism last year It took a while to flush out the real loan/ownership/responsibility issue. Michael Kelly owes AIB 60million and they are forcing the sale of his assets (I presume). Why the guys in AIB can’t have a few conversations with Government beats me. We sent a proposal for reuse to all AIB directors and to government ministers and NAMA. We will be making it public this week. SE area Local Councilors are calling for cultural reuse
[…] Namawinelake blog “The advertising hoardings have been erected outside and Jones Lang LaSalle (JLL) has […]
[…] Link to Namawinelake blog: The advertising hoardings have been erected outside and Jones Lang LaSalle (JLL) has been retained for the marketing, and it finally looks as if the home of the old Hume Street Hospital at 3-8 Hume Street, just off St Stephen’s Green in central Dublin may finally get a new lease of life. The 40,000 sq ft handsome terraced row of six buildings is being offered for sale by tender for about €3m, the tender date has yet to be set and once it is, the full sales listing will be available from JLL. […]
The Save Hume Street Campaign is holding a public awareness meeting in Dublin next week (Monday 14th May 6.30pm, Little Museum of Dublin) where it will outline in detail its proposals for the Hume Street Hospital building.
This meeting will take the form of a Public Debate to highlight the potential use of this space as a cultural and public amenity.
Save Hume Street is proposing a combination of State, philanthropic and private investment to acquire and restore it.
thanks Sadhbh,
We are having some interesting feedback from a NAMA insider regarding our proposal. We are inviting JLL (the estate agent) and AIB to the meeting. They may not come, but we are making them aware of our proposal. Hume Street brings up connotations of the past – The Battle of Hume Street 1969/ 70 – as we repeat ourselves by neglecting our intangible yet valuable heritage assets. People don’t want to live in a wasteland, nor visit one as a tourist.
Hume Street hospital may by luck go to a good buyer, but we have €30 million invested to date, so I think we have a right to have a say in it’s disposal.