Construction News

15/06/2017

Development Lands Owned By RTÉ Sold To Cairn Homes

Development lands in Donnybrook, Dublin, owned by Irish national broadcaster RTÉ have been sold to Cairn Homes for over €107.5 million.

Known as 'Project Montrose' the sale was carried out by Savills.

The site sits adjacent to RTÉ's broadcasting headquarters in Donnybrook and will provide the buyer with the opportunity to develop a mid to high-end housing scheme of up to 500 units comprising a mix of apartments and houses – subject to securing necessary planning permission.

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Mark Reynolds, Director, Savills Ireland commented: "When we launched 'Project Montrose' to the market back in April, we described it as a once in a generation opportunity to be part of a truly transformative development story in one of Dublin's most affluent and fashionable areas. The competitive bidding process and final sale price of €107.5m is testament to that. We now look forward to seeing this development come to life and providing a new high quality scheme in Dublin 4."

(CD/LM)

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