Tuesday 21 May 2019

Glenveagh in €22m docklands council sale

Glenveagh Properties chief executive Justin Bickle
Glenveagh Properties chief executive Justin Bickle

Gordon Deegan

Glenveagh, one of the country's largest residential builders, has said it will sell 56 apartments in Dublin's docklands to Dublin City Council for €22.06m for social and affordable housing.

The apartments are part of plans by Glenveagh to construct 554 apartments at a site at East Road near to both the International Financial Services Centre (IFSC) and the so-called Silicon Docks area.

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The firm has put the €22m value on the apartments arising from its requirements under Part V of the Planning and Development Act which requires builders to provide a portion of new developments towards social and affordable housing.

Underlining the scale of the proposed deal, the €22m value just falls short of the €23.17m total Dublin City Council spent for all Part V housing across the city last year when it acquired 98 units in 17 separate developments.

The 554 apartments plan is currently before An Bord Pleanála.

Irish Independent

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