The Royal Irish Automobile Club has agreed the terms of a deal with Tetrarch Capital for the redevelopment of its premises on Dawson Street in Dublin city centre.
The proposed scheme is still subject to approval by members of the RIAC at a meeting in January.
It is also conditional Tetrarch receiving planning permission for the development.
The RIAC is a private members' club located at numbers 33-34 Dawson Street. The club is adjacent to the 36-bedroom Dawson Hotel in the city centre street, which was purchased by Tetrarch in 2015.
The proposed scheme will cover Nos 33-36 Dawson Street and several buildings to the rear.
It will see significant upgrades and improvements to the club's buildings.
New facilities planned will include a new members' restaurant, bar, reading room, meeting rooms, offices for the RIAC and Motorsport Ireland, a new location for its Guinness Seagrave Library as well as a new 61 space carpark.
The development will also see 77 new bedrooms added to the hotel, which will be operated by Tetrarch and use the RIAC brand in its name.
