Sean Mulryan’s property development company Ballymore has been chosen by Diageo to develop part of the Guinness Brewery as a new urban centre.
Guinness’s parent, Diageo, announced plans in 2017 to redevelop 12 acres of its complex at St James’s Gate in central Dublin for housing, offices, shops and businesses.
It was understood that a shortlist of developers for the site included US multinational Hines, London-based U&I and Ballymore.
In a statement on Thursday, Diageo said that, alongside Ballymore, it intends to develop the so-called Guinness Quarter as Dublin’s first “zero carbon district”. That means existing buildings will be re-used while the possibility of renewable energy installation will be examined.
In addition to the spaces for living, working and shopping, the area will include public spaces.
It has previously been reported that the development has a commercial value of about €1 billion.
Engagement with the local community is expected to commence so that both Ballymore and Diageo can develop a masterplan for the area.
“As we move into the next chapter of this 261-year-old brewery, we are very excited about the possibilities of creating a quarter that will form part of the fabric of the city for generations to come,” said Oliver Loomes, managing director of Diageo Ireland.
Ballymore chief executive and chairman Sean Mulryan said that the company is confident it can deliver, having “40 years of experience in delivering complex urban regeneration sites”.
Ballymore is redeveloping a substantial portion of Dublin’s docklands in partnership with Singaporean company Oxley, and has developed a substantial plot of land in London, London City Island, in addition to its Nine Elms development, also in London. It is also involved in a development known as Connolly Quarter, which will see it develop 741 new homes in Dublin city centre, adjacent to the Connolly railway station.