The listed property, near St Stephen's Green, will be converted in to a five-star hotel. The building dates back to 1913 and former uses include a hall of residence for UCD students. It has been used by the Department of Justice as a direct provision centre for more than a decade, but will now undergo a renovation.
The 18-strong Red Carnation currently owns and operates Ashford Castle and The Lodge at Ashford Castle in Ireland. It acquired Ashford Castle out of receivership for €20 million in 2013 and has since invested more than €75 million into its extensive renovation