Saturday 26 May 2018

Ronan set to meet council to discuss the future of Spencer Dock

High-profile developer has had a milestone week, writes Gavin McLoughlin

It has been a good week for developer Johnny Ronan as he makes plans for his site at Spencer Dock
It has been a good week for developer Johnny Ronan as he makes plans for his site at Spencer Dock

Johnny Ronan is examining the potential for building student accommodation at the six-acre Spencer Dock site on Dublin's quays.

The developer's Ronan Group is due to meet with Dublin City Council in the coming weeks to discuss the future of the site.

Ronan Group's development director, Shane Whelan, told the Sunday Independent that the Group is currently evaluating what the best mix of developments is for the site, after signing documents to take control in recent days. He said it would be attractive to "a multitude of tenants".

With backing from Colony Capital, the Ronan Group narrowly defeated Greg Kavanagh's New Generation Homes to take control of the site.

The six-acre site has planning permission for 340,000 sq ft of office space, 165 apartments and a hotel with 169 bedrooms.

The group will look to deliver an office complex and intertwined listed buildings at the site, with more modern architecture.

The site has deep links to Ronan, as part of a larger property owned by CIE which was to be developed by Ronan's Treasury Holdings prior to the crash.

It's been a good week for the developer, who has also been granted planning permission for a massive €200m office block development at the AIB Bankcentre in Ballsbridge.

Last year, the high-profile Ronan paid €67.5m to buy a 1.5 hectare site, including four empty office blocks, and land in front of the Bankcentre located across the road from the RDS.

The scheme is to include the construction of two six-storey buildings over three basement levels, and the demolition of some vacant office blocks.

Over 2,200 workers could be accommodated between the two blocks.

The developer is also looking to develop a hotel at a premises on Dublin's Grafton Street.

Meanwhile, documents newly filed a the Companies Registration Office show a company with an address in Malta has acquired a charge over two of the Ronan Group's plush residential properties. Ronan has put up a house called Weston in Foxrock, and another called Dargleside in Enniskerry, to borrow from Lissa Ltd, with an address in the city of Qormi in Southern Malta.

It's not clear from the documents how much money has been borrowed.

In a 2015 listing advertising Dargleside for rent, the property is described as a "spacious and private large detached residence in immaculate condition, with impressive entrance hall, five large double bedrooms, all en suite, two reception rooms, kitchen/breakfast room and utility room.

"The house is a smart home with a surround-sound system throughout the property... this architecturally designed home has been recently constructed to the highest of standards, and takes in the beautiful views from every room."

It adds the home has underfloor heating, "designer bathrooms with luxurious sculpted stone bath and double shower systems", and integrated appliances in the kitchen.

The listing also notes: "The house is situated behind remote controlled security gates and has ample parking to the front with beautiful woodland gardens and private lawn... this is a home of very high standards and would be ideal for a corporate wishing to entertain".

Sunday Indo Business

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