The former owners of the Jury's Doyle hotel group have bought the Bord Gais Energy Theatre in Dublin.

John and Bernie Gallagher paid €28m for the venue.

That is far short of the €80m spent on developing the site in 2010, but more than the €20m guide price.

The National Asset Management Agency (NAMA) appointed receivers to the theatre - formerly owned by businessman Harry Crosbie - earlier this year.

Stephen Tennant from Grant-Thornton was appointed receiver of the Point Village and the Bord Gais Energy Theatre back in April 2013, after it was reported debts were run up of about €450m.

Originally opened as the Grand Canal Theatre, it was rebranded in 2012 as part of a deal that is in place until 2018. The facility has a capacity to seat more than 2,100.

Newstalk's Business Editor Ian Guider says the sale has been a great success.