Bord Gáis Energy Theatre

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Bord Gáis Energy Theatre
Bord Gáis Energy logo.svg
Bord Gáis Energy Theatre
Front of Bord Gáis Energy Theatre (BGET)
Bord Gáis Energy Theatre is located in Central Dublin
Bord Gáis Energy Theatre
Bord Gáis Energy Theatre
Location of BGET within Central Dublin
Former names Grand Canal Theatre
(2010-12)
Address Grand Canal Square
Dublin 2, D02 PA03
Ireland
Coordinates 53°20′39″N 6°14′24″W / 53.34425°N 6.24004°W / 53.34425; -6.24004Coordinates: 53°20′39″N 6°14′24″W / 53.34425°N 6.24004°W / 53.34425; -6.24004
Public transit Grand Canal Dock Dart
Parking 150 spaces underground
Grand Canal Square Q-Park
Owner Bernie and John Gallagher (Doyle Hotels)
Operator Live Nation Ireland
Type Seated theatre
Genre(s) West End Shows
Capacity 2,111 total seats (5 floors)
1,051 in stalls (2 floors)
589 in circle (2 floors)
431 in upper circle (1 floor)
40 in 10 boxes
Acreage 0.80 acre
Construction
Built Start 2007 to End 2009
Opened 18 March 2010
Construction cost €80 million
(includes land)
Architect Daniel Libeskind (design)
RHWL (theatre)
Builder Chartered Land
Structural engineer Arup Group (also did
Mechanical and Electrical)
General contractor John Sisk & Sons
Website
Venue Website

The Bord Gáis Energy Theatre (or Grand Canal Theatre) is Ireland's largest fixed-seat theatre,[1] and is located in Grand Canal Square, Dublin.

It was designed by Daniel Libeskind for the DDDA, built by Joe O'Reilly (Chartered Land), and opened by Harry Crosbie on the 18 March 2010.[2]

It is owned by Bernie and John Gallagher (of Doyle Hotels), who bought the BGET in 2014 from NAMA, through their company, Crownway.[3][4][5]

Development (2004-2010)[edit]

The front of the Daniel Liebskind 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)[6][7][8] is the largest fixed seated theatre in Ireland,[1] and the only Irish theatre with a stage[9] capable of hosting major London West-End shows.[10][11][12]

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[13] of Chartered Land (Castlethorn),[6] on a 0.8 acre site,[14] at a reported cost of €80 million (incl. land), to the specifications of the Dublin Docklands Development Authority (or "DDDA").[7][15][12]

The cost of the Grand Canal 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.[16] 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).[17][18][19]

Polish-American starchitect Daniel Liebskind 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.[6]

Studio Liebskind collaborated with RHWL architects in London (theatre specialists) and McCauley Daye O'Connell architects in Dublin (executive architects).[20]

Construction started on the theatre in January 2007 and finished in late 2009. Main contractor was John Sisk & Sons and Arups were the main engineers.[6]

The DDDA's wider development of the Grand Canal Square (Grand Canal Dock regeneration project), included another office block (1 Grand Canal Squre[21] 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[22]) and a Martha Schwartz designed 10,000 sq ft central piazza (on a "red carpet" theme, integrating with the Liebskind theatre, completed in 2008).[23][24]

Ownership (2010 onwards)[edit]

Owner Harry Crosbie at the opening night of the threatre 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.[15]

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").[25]

Crosbie then leased the management contract for the Grand Canal Theatre to Live Nation (who were also co-owners, and managers, of the 3Arena).[26][27]

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

The Grand Canal Theatre was formally renamed the Bord Gáis Energy Theatre ("BGET") on the 7 March 2012 as part of a 6.5-year naming rights deal with Bord Gáis Energy[28][29] worth a reported €4.5 million (or €700k per year).[30]

BGET was put into recievership by the NAMA in April 2013.[31][32] 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).[8] He unsuccessfully fought the foreclosure by NAMA's receiver, Grant Thornton.[33][34][35]

Grant Thornton took control of the BGET for NAMA, however Live Nation continued to manage the venue and support the sales process with CBRE.[12]

The BGET was sold in September 2014[12][11][8] 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][36][3] one of Ireland's richest hotel couples. They had not previously owned a theatre or concert venue.[37]

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).

Operational performance[edit]

View from inside the theatre at the 2014 TEDxDubin conference

Filed accounts (including 2014 CBRE sales materials[11][12][8][14]), indicate that the Bord Gáis Energy Theatre:[38][39]

  • 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;[12]
  • 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).[39]

Notable productions[edit]

The Lion King ran for 69 performances in the BGET in 2013

As per above, the BGET imply that circa 90% of the events are West-End musicals and West-End theatre shows.

The following West End shows have been shown in the BGET:[12]

The following other notable performances have been shown in the BGET:

See also[edit]

References[edit]

  1. ^ a b "Irish Theatre Venues". irishtheatre.ie. 2018. 
  2. ^ a b c "Grand Unveiling: New Theatre Opens Its Doors With 'Swan Lake'". Irish Times. 19 March 2010. 
  3. ^ a b "Bord Gáis Theatre sold in €28m deal". Irish Times. 23 September 2014. 
  4. ^ a b "Theatre sold to John and Berie Gallagher of Jurys Doyle fame". Irish Independent. 23 September 2014. 
  5. ^ a b "Bord Gáis theatre sold for €28m to Celtic Tiger winners". Irish Independent. 23 September 2014. 
  6. ^ a b c d "BORD GÁIS ENERGY THEATRE AND GRAND CANAL COMMERCIAL DEVELOPMENT". Studio Liebskiend. 2010. 
  7. ^ a b "Daniel Libeskind's Grand Canal Square Theatre". Buildipedia. 3 January 2011. 
  8. ^ a b c d "Harry Crosbie's Bord Gáis theatre for sale at €20m". Irish Times. 9 July 2014. 
  9. ^ "Grand Canal Theatre Stage Equipment Case Study" (PDF). Unusual Rigging Limited. 2010. 
  10. ^ "Curtain up on a new theatrical era?". Irish Times. 21 January 2010. 
  11. ^ a b c "Prestigious Dublin Theatre to Attract Investor Appetite". CBRE Ireland. 4 July 2014. 
  12. ^ a b c d e f g "Bord Gáis Energy Theatre (CBRE)". CBRE. 2014. 
  13. ^ "Profile of Joe O'Reilly". Irish Times. 12 February 2014. 
  14. ^ a b "Bord Gáis Theatre takes centre stage". Irish Examiner. 14 July 2014. 
  15. ^ a b "Selling our largest theatre: the public case for a cultural jewel". Irish Times. 9 July 2014. 
  16. ^ "Grand designs will test patience". Irish Times. 8 December 2006. 
  17. ^ "Dockland scheme to express 'vitality of Dublin'". Irish Architecture News. 19 September 2007. 
  18. ^ "Grand Canal Square". Chartered Land. 2018. 
  19. ^ "Grand Canal Square / Studio Libeskind". archidaily. March 2010. 
  20. ^ "Interview with Daniel Liebskind" (PDF). Royal Irish Architecture Institute. January 2010. p. 15. 
  21. ^ "1 Grand Canal Square". archiseek. 2010. 
  22. ^ "Marker Hotel Grand Canal Square". archiseek. 2010. 
  23. ^ "Grand Canal Square Dublin". Martha Schwartz Partners MSP. 2010. 
  24. ^ "Grand Canal Square by Martha Schwartz Partners". deZeen. 2010. 
  25. ^ "Crosbie firm buys €100m theatre being built in Dublin docklands". Irish Times. 3 July 2007. 
  26. ^ "Building row takes centre stage on opening night of €80m theatre". Irish Independent. 9 March 2010. 
  27. ^ "Nick Webb: Live Nation after Harrys' theatre". Irish Independent. 14 September 2014. 
  28. ^ "Grand Canal Theatre to change name as part of Bord Gáis deal". Irish Times. 25 October 2011. 
  29. ^ "We Have Now Changed Our Name!". Bord Gáis Energy Theatre Website. Archived from the original on March 27, 2012. Retrieved 2012-03-11. 
  30. ^ "Bord Gáis secures naming rights to Grand Canal Theatre". thejournal.ie. 24 October 2011. 
  31. ^ "Receivers appointed to companies behind former Grand Canal Theatre and Point Village". thejournal.ie. 19 April 2013. 
  32. ^ "Docklands king's downfall – why Nama pursued Harry Crosbie". Irish Times. 16 May 2014. 
  33. ^ "Bord Gáis theatre sale 'barbarous', says Harry Crosbie". Irish Times. 19 July 2014. 
  34. ^ "Harry Crosbie in court challenge to Nama over seizure of theatre". Irish Independent. 25 May 2014. 
  35. ^ "Bord Gáis Energy Theatre up for sale for over €20m". RTE News. July 2014. 
  36. ^ "New owners for Bord Gáis Energy Theatre". Irish Times. 24 September 2014. 
  37. ^ "Tycoons under the radar". Sunday Business Post. 1 October 2017. 
  38. ^ "Theatre hits €1m profit thanks to top musicals". Irish Independent. 21 October 2016. 
  39. ^ a b "Bord Gáis theatre sees profits triple to €682,120". Irish Times. 9 October 2017. 
  40. ^ Aoife Barry (March 29, 2016). "RTÉ had another 'Riverdance moment' last night". TheJournal.ie. 


External links[edit]