| 8.4°C Dublin

Gibraltar firm D4P Holdings planning Dublin office scheme

Close

Football player Aaron Payas is one of the directors of D4P Holdings

Football player Aaron Payas is one of the directors of D4P Holdings

Getty Images

Football player Aaron Payas is one of the directors of D4P Holdings

A Gibraltar company has been told to supply more information to the Dublin City Council about a planned redevelopment of the former Cablelink HQ.

The building in Ballsbridge was sold a few months ago for less than €3m, having guided nearly €10m in 2009.

The directors of the Gibraltar firm - D4P Holdings - include a part-time player for the Gibraltar national football team, Aaron Payas. The other director is Tim Streathfeild-James.

Mr Payas is a lawyer with Gibraltar law firm Hassans. Mr Streatfeild-James, a former Barclays banker, is the owner of Gibraltar-based Riara Consultants.

It's not known who the beneficiary owner of the old Cablelink HQ is.

The company sought permission to demolish the two-storey property and to build a new four-storey office building as well as a four-storey residential building with 10 apartments, private terraces and roof gardens.

Some residents close to the property have voiced opposition to the plans.

The adjacent Herbert Park Hotel also had issues regarding possible overlooking of its bedrooms. Dublin City Council has told the Gibraltar firm that it must justify the amount of office space being proposed in the planning application.

The Cablelink building was acquired in 2007 by developer Paddy Kelly and his children for an estimated €27m.

It was initially put on the market in 2009, having been put up for sale by Pressaro Ltd.

That company had been controlled by Mr Kelly but Ferris Associates had been appointed receiver to the firm.

ACC Bank pursued the Kellys for almost €23m in loans related to the building's purchase.

Irish Independent