Bord Gáis Energy Theatre

The site in 1985 prior to demolition

The site originally housed various buildings and structures of the Dublin Gasworks Company which were demolished in 1985 and decontaminated by the DDDA in the late 1990s and early 2000s at a cost of over €50m.[6][7]

The front of the Daniel Libeskind designed Bord Gáis Energy Theatre pictured from the Martha Schwartz designed Grand Canal Square plaza

Grand Canal Theatre (148,171 ext. / 117,132 int. square foot, 2,111 seats)[8][9][10] is the largest fixed seated theatre in Ireland,[1] and the only Irish theatre with a stage[11] capable of hosting major London West-End shows.[12][13][14]

It would rank as the 4th largest London West-End theatre, and exceeds the capacity of all New York Broadway theatres.

The theatre was built by Joe O'Reilly[15] of Chartered Land (Castlethorn),[8] on a 0.8-acre site,[16] at a reported cost of €80 million (incl. land), to the specifications of the Dublin Docklands Development Authority (or "DDDA").[9][17][14]

The cost of the theatre was funded by the sale of two sites, on either side of the theatre, that Joe O'Reilly purchased from the DDDA in 2006.[18] Therefore, as well as the Grand Canal Theatre, O'Reilly built the south office block (2 Grand Canal Square at 150,000 gla sq ft), and north office blocks (4 & 5 Grand Canal Square at 225,000 gla sq ft), as well as a 222-space car-park (underneath the Grand Canal Square plaza).[19][20][21]

Polish-American starchitect Daniel Libeskind designed the theatre for the DDDA in 2004 (who were regenerating the area). Studio Liebskind also designed the office blocks on either side of the theatre (2, 4 & 5 Grand Canal Square) to ensure O'Reilly's scheme was integrated.[8] Studio Liebskind collaborated with RHWL architects in London (theatre specialists) and McCauley Daye O'Connell architects in Dublin (executive architects).[22] Construction started on the theatre in January 2007 and finished in late 2009. The main contractor was John Sisk & Sons and Arups were the main engineers.[8]

The DDDA's wider development of the Grand Canal Square (Grand Canal Dock regeneration project), included another office block (1 Grand Canal Square[23] at 125,000 sq ft, completed in 2007), a 5-star Hotel (the Manuel Aires Mateus designed, Marker Hotel, completed in 2012 but to a lower specification[24]) and a Martha Schwartz designed 10,000 sq ft central piazza (on a "red carpet" theme, integrating with the Liebskind theatre, completed in 2008).[25][26]

Owner Harry Crosbie at the opening night of the theatre on 18 March 2010

As construction began in January 2007, the DDDA reportedly proposed the Grand Canal Theatre to the State (Department of Arts and Culture) or the Abbey Theatre, or as a new venue for National Concert Hall, but neither were able to meet the cost of fit-out (circa €4m), or handle the scale of the venue.[17]

The theatre was purchased by Dublin Docklands-based businessman Harry Crosbie (co-owner of Point Theatre, now 3Arena, amongst other docklands properties) for €10m in July 2007 from Joe O'Reilly. Crosbie borrowed the purchase price, plus another €3.8m for the fit-out, from Allied Irish Banks ("AIB").[27]

Crosbie then leased the management contract for the Grand Canal Theatre to Live Nation (who were also co-owners, and managers, of the 3Arena).[28][29]

Crosbie officially opened the Grand Canal Theatre with a performance of Swan Lake by the Russian State Ballet of Siberia on 18 March 2010.[2]

The Grand Canal Theatre was formally renamed the Bord Gáis Energy Theatre on 7 March 2012 as part of a 6.5-year naming rights deal with Bord Gáis Energy[30][31] worth a reported €4.5 million (or €700k per year).[32]

The theatre was put into receivership by the NAMA in April 2013.[33][34] Crosbie's AIB theatre loans had been transferred to NAMA, however, Crosbie had larger loans with NAMA on various docklands projects (e.g. Point Village).[10] He unsuccessfully fought the foreclosure by NAMA's receiver, Grant Thornton.[35][36][37]

Grant Thornton took control of the theatre for NAMA, however Live Nation continued to manage the venue and support the sales process with CBRE.[14]

The theatre was sold in September 2014[14][13][10] on behalf of Grant Thornton for €28m (twice what Crosbie paid in 2007, and 40% above CBRE's €20m asking), to Bernie and John Gallagher (of Doyle Hotels),[4][5][38][3] one of Ireland's richest hotel couples. They had not previously owned a theatre or concert venue.[39]

LiveNation remain as venue managers (not clear if this is Harry Crosbie's original lease or a new management agreement with Bernie and John Gallagher).

View out from inside the theatre

Filed accounts (including 2014 CBRE sales materials[13][14][10][16]), indicate that the Bord Gáis Energy Theatre:[40][41]

• sells circa half a million tickets per year;
• hosts circa 330 events per year (including afternoon and evening shows), close to busiest UK theatres of 350 per year;[14]
• 70% of events are described as West-End musicals, and 20% are described as West-End theatre;
• makes circa €8m in revenues per year (tickets, food and beverage, venue hire and naming rights)
• makes circa €1.5m in EBITDA, and circa €1m in pre-tax profit (there is some ambiguity over the definition of EBITDA and pre-tax profit).[41]

• Dublin Docklands Development Authority
• Daniel Libeskind
• Martha Schwartz
• Grand Canal Docks
• West End theatre
• Broadway theatre
• Bord Gais Energy

Wikimedia Commons has media related to Bord Gáis Energy Theatre.

• John and Bernie Gallagher, current owners of the theatre
• Chartered Land, developers of the theatre
• Studio Liebskind, Grand Canal Development
• CBRE Bord Gáis Energy Theatre Brochure 2014