Council dispose of land at Royal Liver Retail Park to developer of 1,102 residential units
By Maurice Garvey
DUBLIN City Council proposed this week to dispose of the council’s freehold interest in 0.43 acres of land at Royal Liver Retail Park, to developer Shorevale Investments Ltd.
Shorevale, the owners of the retail park, have planning permission for 1,102 residential units at the Old Naas Road site – the vast majority of them build-to-rent apartments.
The land on the Naas Road side of the Royal Liver Retail Park
Construction will see nine blocks ranging from seven storeys to an 18-storey landmark tower which will rise to a height of 77.6m
At the South Central area meeting this week, DCC said the 0.43 acres has no development potential for the council due to its “aspect, size and location”, along with the presence of a gas main.
The strip of land in question is a landscaped green on the Naas Road side of the retail park.
Shorevale applied to DCC to acquire freehold interest in the plot.
DCC’s disposal of its freehold interest to Shorevale is subject to terms and conditions, which include a fee of €250,000, and acknowledgement that the subject land is partly encumbered by a gas main.
Separate to this, development fees of €7.7 million are due for planning contributions for public infrastructure and facilities benefiting the development.
The project planned by Shorevale, part of Allied Retail Estate Group (AREG), is expected to cost up to €500m to develop.
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.