Dunne to rebrand Mountbrook as talks with NAMA continue
Developer Sean Dunne has decided to change the name of his main company as discussions continue with NAMA over the future direction of his operations.
Mr Dunne's Mountbrook, which was behind the Jury's site in Dublin 4, will now be known as Mavior after Mr Dunne and his fellow executives held an egm two weeks ago.
Mountbrook, like many development companies, is seeking to reach a memorandum of understanding with NAMA that will put it on a long-term footing. The company has strongly denied any suggestions NAMA is poised to take over any of Mr Dunne's properties.
Mr Dunne has been ordered to scale back his plans for a massive apartment and hotel development if he wants to secure planning permission for the former Jury's site.
An Bord Pleanala has written to the businessman advising that unless the upper floor is removed from a number of blocks in the Dublin 4 development, it cannot grant permission. Mr Dunne plans to build 568 apartments, a hotel, shops and restaurants in a dozen buildings on the former Jury's Berkeley Court site which he bought for €380m in 2005 -- a record at the time.
A previous application for the three-hectare (7.4 acre) site was rejected, and a scaled-down development was approved by Dublin City Council last year.
Yesterday it emerged that An Bord Pleanala had written to the businessman, saying that the current design might represent "overdevelopment" of the site and that the board had concerns about the amount of light getting into buildings.
"It is considered that the proposed development might represent overdevelopment of the site which might, in overall terms, have an adverse impact on the streetscape and on the setting and amenity of existing buildings in the vicinity and might result in a sub-optimal level of amenity for future residents," the board said.
The changes must be submitted by April 21.