New Generation Homes plans to build offices on An Post site in docklands
New Generation Homes, the development firm founded by Greg Kavanagh (pictured), is to fork out €40m for a 2.3 acre site in the Dublin docklands.
The firm has been named as preferred bidder for the An Post site on Cardiff Lane.
In a statement, the developer said it will shortly submit a planning application for 200,000 sq ft of so-called Grade A office space, together with around 100 residential apartments on the site.
Assuming the scheme is approved without any issues, the development is expected to be completed in two to three years. The site sits within Dublin's Strategic Development Zone, an area of land designated for regeneration through developments of social or economic importance to the State.
The deal will enable An Post to relocate to a custom-built, mail premises on the north side of the River Liffey, replacing the Cardiff Lane operation.
New Generation Homes chief executive Patrick Crean commented: "The plans we have for the site reflect the quality that has emerged in the vibrant heart of Dublin's Docklands.
"In recent years the area has seen the development of the Grand Canal Theatre, Alto Vetro, The Hanover Building, Grand Canal Square and The Marker Hotel, and is home to Facebook, Google and Yahoo! - we hope this development will become home to other exciting global brands."
Last month the council signed off on the "Reveal Developments" - a €450m office and apartment development at Hanover and Sir John Rogerson's Quay.
That plan will deliver nearly 300,000 sq ft of office space and 158 apartments when it is complete.
Kennedy Wilson meanwhile is seeking planning permission to build 313,000 sq ft of office space and 204 apartments at the "Capital Docks" site on John Rogerson's Quay, close to the East Link Bridge and opposite the 3 Arena.
The €200m development includes plans for three office blocks and two apartment buildings including one that will be 19 floors, or 66m tall.
That would make it the tallest residential building in Dublin, ahead of the Millennium Tower in Grand Canal Dock. It would be one metre shorter than Montevetro, the tallest office block in the city.
Nama meanwhile is helping finance a planned €150m development at Boland's Mills at Grand Canal Dock.
Those plans provide for 395,000 sq ft of office, residential, and retail space including cafes. restaurants and "cultural space".
The development will also include 42 two and three-bedroom apartments.