Sunday 11 November 2007

Castlethorn plans €500m scheme for Adamstown

Castlethorn Construction is planning to develop a €500 million shopping, office and leisure scheme in Adamstown in west Dublin.

The company, which is owned by Joe O’Reilly, Liam Maye and John Fitzsimons, is developing the scheme as part of the Adamstown special development zone. Cal led Adamstown Central, the new scheme will have open streets and 60 shops, with apartments and offices overhead.

Castlethorn plans to develop bars, a nine-screen cinema, restaurants, a leisure centre, medical centre and other amenities next to the new train station in Adamstown. Just under 1,000 apartments will be developed as part of the scheme.

About 10,000 new homes are to be developed on the 500acre site, which is next to the Dublin-Kildare railway line. Castlethorn owns about 60 per cent of the site.

A planning application for Adamstown Central will be lodged before the middle of January with South Dublin County Council, and a decision is expected to be made within two months. Castlethorn is hoping to open the scheme before the end of 2010.

Castlethorn is one of the largest development firms in Ireland. It owns the Dundrum Town Centre in Dublin, which is worth well over €1 billion, and is developing a major residential scheme in Ashtown, Dublin 15.

In a personal capacity, O’Reilly is also developing a small shopping centre off Grafton Street in Dublin, most of which he has since sold to a fund managed by Anglo Irish Bank.

He owns half of the Pavilions shopping centre in Swords, and is planning a major extension to the scheme.

O’Reilly is also planning to develop a nine-acre scheme between O’Connell Street and the Ilac Centre in Dublin.

O’Reilly owns 50 per cent of the Ilac Centre. He is also developing a Daniel Libeskind-designed office complex in the south docks in Dublin.

Sunday Business Post

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