Dublin-based property investor BCP Fund Management DAC is to apply for planning permission to convert the upper floors of St Andrew's House on Exchequer Street, Dublin, into a 34-room tourist hotel, adding to a pipeline of office-to-hospitality conversions in the capital.

The Irish Independent reported that the ground floor of the four-storey-over-basement Victorian building currently hosts several retail units, which will remain unaffected by the proposed conversion.

Ray Crowley, director of BCP Capital, confirmed the fund's intention to open a tourist hotel across the upper levels of St Andrew's House and said no operating contract with a hotel group had yet been signed.

BCP acquired St Andrew's House in 2017 on behalf of its international fund for €11.3m, with the block comprising five shops fronting onto Exchequer Street and two more on South William Street.

The fund is familiar with the hotel operating model, having co-owned the former Central Hotel on the same street with Deutsche Finance International, which is now operated under the Hoxton brand.

The conversion plan comes as Ireland's commercial property market shows signs of recovery. A March 2026 outlook report by the Society of Chartered Surveyors Ireland found demand improving across retail, office and industrial sectors, with prime office capital values forecast to rise by 2.4% and rents by 2.9%. Secondary office values, however, remain under pressure, with capital values forecast to fall by 0.7% and rents by 0.8%.

The wider Irish hotel market is providing additional context for the conversion.

Read the full report on BCP Capital's plans for St Andrew's House and the Dublin hotel market.