Cavan-based construction group P Elliott have announced they have applied for planning permission to redevelop the Irish Times site in Dublin city centre.

It is understood the development will involve a 70 million euro investment.

The block includes 8-16 D’Olier Street and 24-27 Fleet Street with 65 metres of frontage on to D’Olier Street and 60m on to Fleet Street.

Cafés, bars, retail, professional and medical services will all be included in the redevelopment with the D’Olier end of the project slated to house an atrium, which will contain eating and bar facilities.

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A number of two-bedroom above ground residential units will also be included.

The P Elliott Group employs 500 people, and was founded in 1942 by the late Patrick Elliott, the grandfather of the current owners, Noel and Mark Elliott.

The company has grown rapidly and will have a turnover of more that 350m euro, making it one of the top ten property developers in the country.

Turnover at the group has risen sharply from 26m euro in 1999-2000 to around 150m euro by the close of 2004.

Current projects the company are developing include the 90m euro Whitestown Way development in Tallaght in Dublin and the Fatima Mansions redevelopment costing 80m euro, also in Dublin.

(JM/SP)