Dublin City University has completed the purchase of a 6.74 hectare (16.66 acre) site at All Hallows College in Drumcondra.
The site was put up for sale in September 2014 with a €14 million price tag. Preliminary contracts were signed with DCU last June and on Friday the All Hallows College Board of Trustees announced the completion of the sale.
The sale is the latest phase of a wider €320 million expansion programme which will see DCU create new institutes of education.
A range of academic schools and support units are to be established on the new campus and the existing 100 bed student accommodation will be upgraded. Plans are in place to develop additional accommodation capacity to meet the demands of a growing student body.
In addition, a new primary school will be built on the site which will cater for young children in the Dublin 9 area.
Dr Patrick McDevitt, CM, President of All Hallows College said: "At the announcement of the wind-down of All Hallows, the stated priorities for the Trustees were their commitment to support students in the completion of their studies, care of staff and preservation of the legacy of this long-established college. This sale will secure, as part of the legacy, the educational mission of the campus and facilitate existing students in the completion of their studies."
Dr McDevitt said the board was pleased that the campus and its assets will be retained within the third level sector.
Existing students will be facilitated in the completion of their studies.
"As a linked college of Dublin City University, we have worked closely together since 2004 and have every confidence that the university has an understanding and respect for our heritage and legacy," he said.
A fully active academic campus will be operational from 2016. This will become a core element of the incorporation programme of St Patrick's College, Drumcondra, Mater Dei Institute of Education and the Church of Ireland College of Education into DCU.
DCU President Professor Brian MacCraith welcomed the completion of the sale.
"We are proud to continue the long tradition of excellence in education and social justice that has been embodied by All Hallows for 174 years. The DCU All Hallows campus is an integral part of our vision for a new DCU and, as Ireland's fastest growing university, we will acquire the infrastructural capacity to grow and provide for the needs of our students."
All Hallows College will host a Festival Week in July to celebrate the legacy of the College from 1842 to 2016.
