Monday 14 October 2019

Ronan seals deal for prime 'TC3' site in south Dublin

Park life: Ronan Group’s plans have been dubbed ‘Central Park Mark 2’ after the original 1999 development built at Leopardstown
Park life: Ronan Group’s plans have been dubbed ‘Central Park Mark 2’ after the original 1999 development built at Leopardstown
Donal O'Donovan

Donal O'Donovan

Developer Johnny Ronan's Ronan Group Real Estate (RGRE) has been confirmed as the successful purchaser of the 13-acre site at TC3 in Cherrywood, Dublin 18, earmarked for a major commercial and residential development.

The deal follows lengthy talks with Dun Laoghaire Rathdown Properties - owned by Dún Laoghaire-Rathdown County Council, who've sought a completed office building as payment rather than a traditional cash purchase.

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The Irish Independent first reported back in February that RGRE was the preferred bidder for the site.

Ronan Group plans to develop a mixed-use scheme of residential accommodation together with premium offices which it has dubbed 'Central Park #2' in reference to the large scale commercial and residential hub at Leopardstown, Co Dublin, built back in 1999.

The 5.3 hectares (13.1 acres) TC3 site is served by Cherrywood Luas stop, with a direct link to the city centre and forms part of the Cherrywood Strategic Development Zone (SDZ), which benefits from 'fast-track planning' rules.

A master plan for TC3 was prepared in advance of the sale by architects Scott Tallon Walker.

That plan is for more than 74,320 sq m (800,000 sq ft) of office space, 358 apartments and spaces for retail, leisure and community use.

The framework plan also provides for up to 1,900 car parking spaces.

Ronan Group's Guy Leech said the development will be world-class.

"We are going to build a new world-class, sustainable and eco-friendly scheme.

"Ronan Group built Central Park, now owned by Green Reit.

"TC3 will be 'Central Park Mark 2' designed for tenant requirements for the 21st century."

Advisers on the deal were Conor Whelan of QRE for the vendors and Evan Lonergan of Knight Frank represented the Ronan Group.

Developer Johnny Ronan's Ronan Group Real Estate (RGRE) has been confirmed as the successful purchaser of the 13-acre site at TC3 in Cherrywood, Dublin 18, earmarked for a major commercial and residential development.

The deal follows lengthy talks with Dun Laoghaire Rathdown Properties - owned by Dún Laoghaire-Rathdown County Council, who've sought a completed office building as payment rather than a traditional cash purchase.

The Irish Independent first reported back in February that RGRE was the preferred bidder for the site.

Ronan Group plans to develop a mixed-use scheme of residential accommodation together with premium offices which it has dubbed 'Central Park #2' in reference to the large scale commercial and residential hub at Leapordstown, Co Dublin, built back in 1999.

The 5.3 hectares (13.1 acres) TC3 site is served by Cherrywood LUAS stop, with a direct link to the city centre and forms part of the Cherrywood Strategic Development Zone (SDZ), which benefits from 'fast-track planning' rules.

A master plan for TC3 was prepared in advance of the sale by architects Scott Tallon Walker.

That plan is for more than 74,320 sq m (800,000 sq ft) of office space, 358 apartments and spaces for retail, leisure and community use. The framework plan also provides for up to 1,900 car parking spaces.

Ronan Group's Guy Leech said the development will be world-class.

"We are going to build a new world class, sustainable and eco-friendly scheme. Ronan Group built Central Park, now owned by Green Reit. TC3 will be 'Central Park Mark 2' designed for tenant requirements for the 21st century".

Advisers on the deal were Conor Whelan of QRE for the vendors and Evan Lonergan of Knight Frank represented the Ronan Group.

Irish Independent

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