Construction News

14/12/2017

Irish Housebuilder Acquires Site In Dublin's North Docklands

An Irish housebuilder has acquired a site in Dublin's North Docklands.

Glenveagh Properties PLC bought the site for over €40 million.

Savills Ireland, on behalf of Duff & Phelps, confirmed the sale of 1-3 East Road, a prominent site of approximately 2.10 ha.

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The site has the potential for 450 new apartments to be developed, according to a feasibility study by O'Mahony Pike.

Mark Reynolds, Director, Development & Consultancy at Savills Ireland, said: "Securing a site with such scale and in such a central location is a real rarity in the Dublin land market. The buyer will be able to capitalise on an area undergoing significant change in the north docklands and also to tap into the pent up local demand for residential accommodation both to rent and purchase."

(CD)

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