US investment firm Kennedy Wilson has been given the go ahead for a huge apartment and office development in the Dublin docklands after the council granted planning permission today.
In a statement, Kennedy Wilson and its joint venture partner Nama said it secured planning permission for its development on Sir John Rogerson’s Quay in Dublin 2.
The “Capital Dock” plan extends over 4.8 acres on the quays across the river from the Three Arena.
The plan will see the construction of 660,000 square feet of apartments and office space.
About 316,000 sq ft of the space will be given over to offices and there will be 204 apartments on site.
Kennedy Wilson and Nama expect to commence on site by December 2015, with the first office buildings available from mid-2017.
Kennedy Wilson Europe managing director Peter Collins commented: “We welcome today’s decision by Dublin City Council which allows for delivery of the office element of the scheme by mid-2017 with the residential element completing in early 2018.
“This development will have a transformative effect, not only on the skyline of the Dublin Docklands, but on the public social, cultural and business realm in this part of the city. It will be the standard-bearer for integrated office and residential development in this country.
“The scheme will offer larger floor plate office buildings but with a high degree of flexibility to large national and multi-national companies wishing to base their headquarters in South Docklands. Kennedy Wilson is currently on site at three significant developments in Dublin and looks forward to adding Capital Dock to its expanding portfolio in Ireland.”
Nama chief executive Brendan McDonagh said: “This is another major and significant step in Nama’s programme of investment to make the Dublin Docklands a better place to invest, create jobs or find a home. Our investment with Kennedy Wilson on Capital Docks is progressing well with this planning being granted as a significant milestone and we look forward to a high quality development of offices, homes, retail units and public spaces that will bring major benefits to the area and to the wider economy, in addition to a commercial return on our investment for the taxpayer.”