Grant Thornton completes receivership sale of Camden Yard to Dublin City Council
Grant Thornton has successfully completed the receivership sale of Camden Yard to Dublin City Council, delivering a positive outcome on one of the most complex and high-profile development assets in Dublin city centre.
Camden Yard commenced in 2022 as a flagship urban regeneration project in Dublin 8, with plans for a mixed-use development comprising approximately 407,000 sq. ft. of office accommodation alongside 299 residential units. However, by the end of 2024, the project had encountered significant difficulties, and John Boland and Nicholas O’Dwyer of Grant Thornton were appointed as Joint Receivers.
At the time of appointment, the development was constructed to first floor level, the main contractor was in the process of demobilising, substantial sums were owed to a wide range of creditors, construction materials were located across European jurisdictions, the company was engaged in ongoing litigation and facing liquidation.
Within fifteen months of appointment, the Joint Receivers stabilised the project, managing the controlled exit of the main contractor and securing arrangements to preserve the value of construction materials located in Europe. With the site stabilised, a structured and competitive sales process was implemented.
The transaction brought together expertise across Grant Thornton’s Restructuring, Tax, and Debt Advisory teams, reflecting the firm’s integrated approach to complex assignments. The sales process was delivered in conjunction with the Development Land team at CBRE, alongside legal advisers Eversheds Sutherland and Graham Kenny Solicitors.
This process ultimately concluded with the successful sale of Camden Yard to Dublin City Council, representing a positive outcome for our client and all stakeholders involved.
Grant Thornton has an established track record in managing complex development and real estate insolvencies, including Greenside House, Connaught House, The Beckett Building, The EXO Building, the Point Square District Centre and multiple windfarms development projects across Italy (WeLink).
Commenting on the transaction, John Boland, Joint Receiver of Camden Yard and Director at Grant Thornton, said:
“We are pleased to confirm the successful receivership sale of Camden Yard to Dublin City Council. This was a complex project from the outset, involving an active construction site with multiple stakeholders and delivery challenges. The outcome represents a positive result for stakeholders, and we now look forward to seeing this strategically important site move into its next phase.”
The transaction highlights Grant Thornton’s ability to manage complex, multi-stakeholder development situations and deliver outcomes that enable projects to move forward.
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Contact from Grant Thornton
John Boland, Receiver & Director
John.boland@ie.gt.com
0872319972