HomeBussinessReceivers aim to sell two Dublin sites co-owned by wife of developer...

Receivers aim to sell two Dublin sites co-owned by wife of developer Derek Quinlan


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The Sandyford site

Two south Dublin residential and mixed-use sites, in which developer Derek Quinlan’s wife Siobhan had an interest, have been brought to the market by Myles Kirby and John Healy, joint receivers over certain assets of Ravensbrook Ltd.

Ravensbrook, which was co-owned by Mrs Quinlan and John Gordon, a senior counsel, had applied for fast-track planning permission for developments on the two sites.

But An Bord Pleanála failed to meet the deadline for deciding on the applications.

Mr Quinlan was one of the larger Irish property developers with national and international developments whose business collapsed at the time of the financial crash and who was subsequently made bankrupt.

The more valuable of the two Ravensbrook sites now for sale is a 2.2-acre plot in Tallaght, situated on the western side of Belgard Road about 200 metres north of the N81 and adjacent to The Square, Tallaght town centre and McDonald’s restaurant. Ravensbrook sought planning permission for a strategic housing development application for a build-to-rent apartment scheme on this site comprising 310 units, retail units and a creche. Now the selling agent Lisney is seeking €4.75m for the site.

Formerly occupied by a Woodie’s store, it is located at the gateway to Tallaght’s main retail area and has the most valuable type of zoning, Town Centre, which would allow developments that would improve and protect the town centre.

Lisney expects a purchaser “will most likely look to resubmit a new planning permission for a revised scheme of residential units and student accommodation”, as this site is only 500 metres from Technological University Dublin-Tallaght and the Luas red line.

Currently investors have more appetite for student accommodation.

The second site in Sandyford extends to 0.56 acres and is located at the corner of Ravens Rock Road and Carmanhall Road, which is designated as the key area for residential development in Sandyford Business District.

It is zoned Z5 Residential with a density of 95 apartments to the hectare and up to six storeys. There is an existing 717 sqm industrial building on the site.

Ravensbrook has applied for 101 units. The agents are guiding €2.75m.

It is a short walk from The Chase office building, Stillorgan Luas stop and Beacon South Quarter shopping centre, across from which Comer Group is well advanced on a development of several hundred apartments.

Friday, June 7 has been set as the deadline for submitting bids.

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