A 15-storey, 200-bedroom hotel will form part of a massive urban village development in Dublin on the site of Clancy Barracks.
Florence Properties of Jersey acquired the army barracks in 2002 for €25m (£17m) but only got the green light for the project last December.
The complex of apartments, shops and offices will be a mix of new and older protected buildings.
The 5.6 hectare plot, which sits alongside the River Liffey behind Heuston Station, is on main travel routes to and from Dublin.
Patrick Gleeson, managing director of Private Wealth Management, which is representing the new owner, said the hotel would be a four-star business hotel with a contemporary, glass-covered design.
Work will start on the new-build hotel in the middle of the year and will take two to three years to complete.
The developers are looking for an international brand to operate it and Gleeson said a number of large European operators have already expressed interest.
The village will include several café/bars and restaurants on a walkway built along the river bank.
By Angela Frewin
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