Former Hibernian United Service Club has new owner after Paddy McKillen jnr pulls out of €17m purchase
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No 8 St Stephen's Green occupies a high-profile position overlooking the famous green in Dublin city centreA private Irish investor has paid a figure approaching €16 million for the home of the former Hibernian United Services Club at 8 St Stephen’s Green in Dublin city centre. The sale of the property comes just over three months after Oakmount, the company headed up by Paddy McKillen jnr and Matt Ryan, pulled back from a deal to acquire it for about €17 million.
While the duo had intended to buy number 8 as part of a wider bid to assemble a large site for a hotel to be operated as part of their Press Up Hospitality Group, it is understood their plan will now be confined to the redevelopment of UK fashion retailer Topshop’s former flagship premises at 6-7 St Stephen’s Green, which Oakmount purchased for €17 million in 2022.
The sale of number 8 meanwhile is understood to have been completed in recent weeks. The price achieved represents a discount of just over 25 per cent on the €20 million agent Cushman & Wakefield had been guiding when it first offered the property for sale in September of last year. The building, widely acknowledged as one of Dublin’s finest Georgian properties, had until recently served as home to the Dublin headquarters of Axa subsidiary the XL Group. It comprises a substantial four-storey over-basement townhouse dating from about 1770. Occupied and owned originally for just under 25 years by Lord Mountgarret, it was acquired by the aforementioned Hibernian United Services Club in 1845 for use as a gentlemen’s club.
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