Monday 26 August 2019

Planned blocks seek to attract cuckoo funds

 

Spencer Dock: The proposed 576-unit development in Dublin’s Docklands
Spencer Dock: The proposed 576-unit development in Dublin’s Docklands

Gordon Deegan

Seven large-scale residential applications have been lodged in a matter of five days under the Government's fast-track planning rules. They include new Cork and Dublin schemes developed to appeal to build-to-rent institutional investors, or so-called cuckoo funds.

Developer Johnny Ronan has unveiled plans for a €350m residential development in Dublin's Docklands.

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The 576 residential unit development for Spencer Dock is Mr Ronan's single largest foray into the residential building market since the property market crash.

In recent days, his firm Spencer Place Ltd has placed the plans for the 576 residential units - made up of 471 apartments and 105 units in shared accommodation - with An Bord Pleanála as part of a consultation process under fast-track Strategic Housing Development (SHD) legislation.

Spencer Place is seeking to build the blocks on City Block 2, Spencer Dock on a site bounded by Sheriff Street Upper to Wapping Street.

One block reaches to 13 storeys but the height of the apartment blocks is the same height as the 629-unit development built on Spencer Dock in 2006/2007.

A short distance away, Singapore-based Oxley Holdings has lodged plans for consultation for 697 build-to-rent apartments at Connolly Station Car Park on Sheriff St Lower.

Elsewhere in Dublin, on lands that formerly formed part of Santa Sabina Dominican College and Convent Complex, Greenfield Road, Sutton, Parsis Ltd has lodged plans with the appeals board for 144 apartments as part of a consultation process.

Outside the capital, Crodaun Developments Ltd has entered a consultation phase with the appeals board on its plan to construct 495 dwellings at Celbridge in Co Kildare made up of 228 houses, 225 apartments and 42 duplexes.

In Cork, Seamus and Evelyn Scally have given notice of their plans to lodge planning for 118 build-to-rent apartments on a site bounded by South City Link Road, Rockboro Road and Gasworks Road in the city.

Also in Cork, HQ Developments are to seek planning for 302 new residential units at Horgan Quay, Railway Street, Cork.

In Oranmore, Co Galway, Arlum Ltd is to seek planning permission for the construction of 212 residential units on a site at Oranhill.

Irish Independent

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