BAM Ireland has commenced work on the $117.7m (€100m) Newmarket Square mixed-use development project in Dublin 8, Leinster province.

The new mixed-use scheme will deliver a 151-bed hotel and 413 apartments on the former IDA Ireland Small Business Centre site located in the historic Liberties area of the city centre.

The city centre is located within walking distance of the Guinness Storehouse, St Patrick’s Cathedral and Christchurch.

In a press statement, BAM Ireland said: “Since 2015, the pace of regeneration around Newmarket has positively reshaped the area, transforming the former industrial units and vacant sites to new commercial uses, residential, student housing schemes, hotels and visitor attractions, including the extremely popular Dublin Liberties Distillery.”

The 29,570m² development, which will offer a mix of studio, one, two and three-bed apartments, is expected to primarily serve accommodation demand in Dublin’s private rented sector.

The scheme’s 151-bedroom hotel, to be operated by Premier Inn, will comprise a bar, restaurant, a café and public areas.

Additionally, the development will feature high-end amenity space including a gym, café / lounge, a cinema, multi-purpose rooms, an artist studio and retail space on street level. It will also comprise bike and car parking spaces at basement level.

The scheme design includes more than 1,925m² of landscaped communal spaces. This includes a biodiversity terrace, spa terrace and a communal courtyard.

A new public walkway will also be built through the site from Newmarket Square to St. Luke’s Avenue.

As the main contractor, BAM Ireland plans to complete work on the Newmarket Square project in 2023.

BAM Ireland CEO Theo Cullinane said: “We are delighted to deliver this important project which will greatly contribute to the regeneration of Newmarket Square, bringing with it an enhanced streetscape, vibrant economy and long-term social benefits.”