DUBLIN CITY Council has agreed to sell its properties on Moore Street to Chartered Land for €12 million, paving the way for the redevelopment of the former Carlton cinema site.
Chartered Land, the company behind the Dundrum shopping centre, has applied to the council for permission for a €1.2 billion development of apartments, shops and restaurants within a 5.5-acre block bounded by O'Connell Street, Parnell Street, Moore Street and Henry Street.
The site is centred on the former Carlton cinema and adjacent derelict site, which are owned by Chartered Land. However, the company, owned by Longford-born developer Joe O'Reilly, also requires council-owned properties to complete the scheme.
The lands are at 24 and 25 Moore Street and were formerly used for storage for the traders on Moore Street. The buildings are now vacant and the traders have been compensated for the loss. The compensation sum could not be disclosed for reasons of confidentiality, the council said.
The council has agreed to dispose of the just under 100sq m site for €12 million. However, the sale is contingent on Chartered Land being granted planning permission for the development.
The disposal cannot take place until it has been ratified by the city councillors. Councillors in the central area have already agreed to the proposal and it will go before the full city council next week. The council is likely to ratify the decision of the local councillors.
Despite having applied for planning permission for the development last April, Chartered Land is still waiting for a decision from the city council.
The council planners last June sought further information in relation to 14 aspects of the scheme including proposals for a sloping public park at roof level with panoramic views over the city. The developers have been asked to supply more details to address the "inherent design challenges" posed by the height of the public space and the need to ensure public access.
They have also been asked to address the concerns of the council's conservation officer in relation to the protected structures in and around the site. Chartered Land has until December to respond to the council.
The Irish Times