The property investment vehicle of former Jones Engineering boss Jim Curley has acquired a historic building on Lower Baggot Street, as part of a substantial redevelopment plan in the area.
Astogo Holdings, the property investment vehicle of Jim and Janet Curley and their family, acquired the former Ulster Bank premises at 130 Lower Baggot Street, in the prime quarter of Dublin 2. The iconic premises of about 8,500sq ft had been on the market with a guide price of more than €2.25 million. It is understood to have transacted at slightly over guide.
The former bank building has a very strong corner profile onto Lower Baggot Street. Due to its highly attractive features and architectural merit, it is a protected structure.
In addition to the former bank premises, the family also acquired the three adjoining properties on Lower Pembroke Street on an off-market basis, again through their agent Robert Corrigan of Browne Corrigan Chartered Surveyors.
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Through Astogo Holdings, Mr Curley has been building up a sizeable property portfolio, with his recent acquisitions including an historic building on Upper Mount Street in Dublin
These two-storey buildings benefit from an existing planning permission for demolition and redevelopment of a ground floor commercial space, with apartments overhead. One of them had been occupied by the well-known pub agent and auctioneer John Younge until recently.
It is understood that the Curley family, who are understood to hold an extensive mixed commercial and residential real-estate portfolio, are likely to seek a new combined planning application across their entire holding.
In the meantime, while planning is being investigated, the properties will be let on a short-term basis. The former bank premises is already in use by the Architectural Association of Ireland for its annual exhibition, which runs until November.
Mr Curley was chief executive of Jones Engineering Group from 1978 until the sale of the company in 2022. Jones Engineering, which was a mechanical, electrical and fire protection contractor, was also involved in the construction of data centres. It was acquired by Texas-based investment firm Cathexis for a sum understood to be in excess of €1 billion, in the summer of 2022. Mr Curley was the company’s second-largest shareholder at the time.
Through Astogo, he has been building up a sizeable property portfolio, with his recent acquisitions including an historic building on Upper Mount Street in Dublin.
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