New U2 studio for Dublin city centre

U2 have agreed a deal with the Dublin Docklands Development Authority whereby they'll be given penthouse studio facilities in the 60-metre tower that's being built at Britain Quay.

The DDDA floated the idea during the summer after ruling that the band's existing Hanover Quay complex would have to be demolished as part of a major docklands facelift.

Whilst acknowledging that "the new Dublin is something I'm really excited about", Bono says that the band would prefer to stay where they are.

"It's very hard to quantify or value what the studio we've been working in for the last years means to us," he rues. "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."

As part of the agreement, U2 will help judge the competition top determine the tower's design.

"I think for all the years of supposed prosperity, Dublin has precious few extraordinary buildings," he reflects. "Developers and builders have gotten away with a lot over the years. It was an extraordinary city way back when, but through corruption and cronyism it's been defaced."