Thursday 29 September 2016

Hibernia Reit loses €500,000 levy battle

Gordon Deegan

Published 07/03/2016 | 02:30

Hibernia CEO Kevin Nowlan
Hibernia CEO Kevin Nowlan

The developers of the site where U2 recorded some of their best-loved albums have failed in their battle with Dublin City Council over a disputed Luas Red Line payment of almost €500,000.

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Last year, Dublin City Council gave Hibernia Reit, which is headed by CEO Kevin Nowlan, the go-ahead for revised plans to construct a €50m mixed-use development on the Sir John Rogerson's Quay site adjacent to the former U2 studio site at Windmill Lane on the south side of the River Liffey.

The revised six-storey mixed-use plan for Sir John Rogerson Quay comprises of 13,700 sq metres in gross floorspace.

However, arising from a 2013 Dublin City Council contribution scheme for Luas Docklands, the City Council slapped a €472,878 bill on Hibernia towards contributing to the Luas line from Connolly Station to Point Square in the Docklands area.

However, Hibernia appealed against the condition demanding the €472,878 to An Bord Pleanala, describing it as "inequitable and unreasonable".

However, the inspector in the case has described the grounds of the Hibernia appeal as "implausible", stating that it would be unjust to allow Hibernia to avoid not paying the contribution.

As a result, the board has upheld the ruling to impose the €472,878 levy.

Irish Independent

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