U+I secured the planning permission after acquiring the two sites in 2014 and 2015.
The two developments combined will deliver up to 147 new homes, over 60,000 sq. ft. of new commercial space, as well as retail and restaurant space.
Construction work at Donnybrook House will begin in October 2016 with an end value of €45 million and work will begin on The Avenue site in Q2 2017 with an end value of €55 million.
Donnybrook house is to undergo a complete refurbishment and conversion of the ground floor offices that will see the building comprehensively remodelled and brought back to life. The redevelopment will provide 45,000 sq. ft. of offices, 2,000 sq. ft. of retail, 4,000 sq. ft. of restaurants and a basement gym of 20,000 sq. ft.
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'The Avenue, Sandyford' is to be redeveloped into a new mixed-use community, providing 147 new apartments and c. 10,000 sq. ft. of commercial space. Located within the South County Dublin residential area of Sandyford, the site is located close to two LUAS tram stops which link directly to the city centre in less than twenty minutes.
Matthew Weiner, CEO, U+I said: "We are delighted to have secured planning permission for two further developments in Dublin which both underline our focus as a business: unlocking the potential of sites to create long-term socio economic value for the communities in which we work. We look forward to working with our Irish partners to create unique places that contribute to the local economy and provide much needed quality residential and commercial space.
"We have been active in Dublin for nearly three years, and we believe it offers significant opportunities to deliver value through our mixed-use regeneration activities. Whilst the EU referendum has created uncertainties for the real estate industry, Dublin remains one of our three core markets as an international capital that has the liquidity, talent and depth to sustain development and investment opportunities over the long-term."
(CD/MH)
