Belgard Road 16-acre prime site acquired for €16 million
By Aideen O'Flaherty
A MAJOR 16-acre site lying off the Belgard Road, which previously housed warehouse units for Cuisine de France, Uniphar and Kerry Group, has been acquired by the Marlet Property Group for a reported €16m.
A number of individual sites were assembled into one land package, which is believed to stretch back to the Belgard Retail Park, with the site possessing the development potential for up to 1,500 apartments.
The site is zoned for regeneration by South Dublin County Council, who will need to approve any plans for the site to become a residential development.
The Echo understands that officials from Marlet will be meeting with local councillors in the coming days.
An application for planning permission relating to the site has not yet been submitted.
Marlet Property Group, which lists Patrick Crean as a director, recently put up a portfolio containing four separate schemes at sites in Dublin for €425m in a ‘forward funding’ deal, which means the units will be purchased during their development phase.
The schemes are located at sites in Bluebell, Harold’s Cross and Cabra Road, and it is believed that the portfolio contains 1,170 units.
The schemes are scheduled to be completed by Marlet between the end of next year and 2020.
Patrick Crean is also one of the directors of Crekav Trading GP Limited, who were granted permission for the development of 80 houses on a site at Finnstown in Lucan last May.
