High price: Ronan Salesforce battle's 'significant losses'
Buoyed by his recent 22-storey triumph, developer Johnny Ronan has begun a legal tussle with Dublin City Council to lift his Salesforce Tower development even higher.
His company, the Spencer Place Development Company (SPDC),has been rebuffed in its attempts to add an extra two storeys on three buildings at the site and three storeys on a further proposed structure. Since then the company, which is a joint venture between the Ronan Group and Colony Capital, has launched a legal challenge over the council's interpretation of the new rules governing height limits in the city.
Lawyers for Ronan argued that the relaxed building heights introduced by Housing Minister Eoghan Murphy in December should take precedence over the height restrictions included in the special development zone around the North Lotts in Dublin's docklands.
Ergo notes that the battle for more floors is taking its toll on Ronan's group. In an affidavit filed by his son, James Ronan, he states that the position of the council has "already caused significant delays" to the development and that the SPDC will face "very significant financial losses". "At this stage it is not possible to quantify the extent of the financial losses that will be caused by these delays," James Ronan said.
The latest battle follows on from the approval of his plans for a 22-storey tower on Tara Street. Ronan says that he's already in talks with potential tenants, including some for a 300-room hotel. Richard Branson's Virgin Hotels is topping the rumour list.
Sunday Indo Business