Bono has launched a contest to design a 60m tower which he plans to build in Dublin’s docklands area which will include a penthouse studio at the top. The new Britain Quay site is around the corner from the building housing U2's present studio, which is being demolished as part of the redevelopment of the area.
Talking about the current Hanover Quay studio, which the band has used since 1980, Bono told reporters: "It's very hard to quantify or value what that studio that we have been working in for the last years means to us. There isn't really a price you can put on it and whatever the Dublin Docklands Authority offer us it's not going to be enough, I can tell you that." The band tried to save their current studio, but despite their protestations the Irish planning board upheld its original plans at a hearing and their compulsory purchase order was confirmed.
Gallant in defeat, on announcing the competition to design the new building Bono admitted that, although the new building was not the best thing for U2, it was the best thing for Dublin itself.