A site in Dublin's Donnybrook that has been earmarked for a €60m-plus development of 90 luxury apartments has been sold by a firm controlled by billionaire Denis O'Brien to stockmarket-listed builder Cairn Homes, it is understood.
The more than three-acre site, close to UCD, was reportedly acquired by an O'Brien firm called Purleigh in 2010 via a land swap deal with the university. That is also thought to have involved the payment of €12.5m to the institution. It is not known what price Cairn has paid for the site.
It is the latest swoop by Cairn Homes to snap up land in the well-heeled suburb.
In June, it agreed to pay €107.5m to RTÉ for almost nine acres of its Donnybrook campus. Cairn intends to build 500 apartments and nine houses on the site.
A plan by Purleigh to build 71 apartments on the Greenfield site at Donnybrook was approved by An Bord Pleanála last December. Plans to increase that number to 90 will be decided this week by the planning watchdog.