Irish property developer Johnny Ronan is understood to be planning a €200 million redevelopment of a site in the Ballsbridge area of Dublin, Ireland adjoining the AIB’s head office.
Mr Ronan has acquired four vacant office blocks and surrounding land in front of AIB’s Bankcentre building, opposite the RDS grounds, on Merrion Road, for €67.5 million.
The near four-acre site was sold by a receiver on behalf of Nama and Ulster Bank.
The Ballsbridge site is expected to be redeveloped as 250,000-300,000 sq. ft. of office space.
It is not clear if Mr Ronan will seek to redevelop the existing buildings or to remove the blocks and start afresh.