Go ahead for 1,100 flats at Naas Road retail park

(stock photo)

Donal Buckley

A retail park on the Naas Road in Dublin is to be demolished to make way for a mixed-use development which will include as many as 1,102 apartments.

Bord Pleanála gave the green light for the project planned by Shorevale Investments Ltd, part of Allied Retail Estate Group (AREG) headed by experienced property developers Adrian Langan and Cathal McGinley.

The project is expected to cost as much as €500m to develop. In total it will comprise nine buildings ranging in height from seven storeys to an 18-storey building that will accommodate offices on a site at the Royal Liver Assurance Retail Park on the Old Naas Road, Dublin 12.

The mixed-use development will also include offices, a crèche, community, retail, gyms, cinema facility, café, bar, restaurant, medical centre and pharmacy uses with a total gross floor area of 129,210 sq m. The development will also include a plaza area.

As many as 992 of the apartments will be build-to-rent units and of these 203 will be shared accommodation for single occupancy bedrooms. The other 110 units will be for sale.

Fronting to Kylemore Road, the 18 storey building will accommodate 16 floors of offices extending to 17,002 sq m with a café on the ground floor.

Prior to founding AREG Mr. McGinley was a principal of KMS Commercial which completed over $700m (€633m) of development projects in New York. These projects included residential, multi-family, hotel and car park developments in Manhattan.

Mr. Langan is a director of Dublin firm Barina Property Group and has been involved in development of more than 2,000 residential units with a combined gross development value of over €600m.

AREG bought the retail park in 2018 for a reported €25m. Ireland’s first retail park, it was opened in 1990 by Royal Liver Assurance Co. In 2005 it was bought by Irish developer Willie Smyth for €60m. Some of the units in the retail park are still occupied.

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