Monday 25 August 2008

Developer Carroll plans 15-storey tower at Dublin Port

PROPERTY developer Liam Carroll has submitted plans for a 15-storey tower block as part of a redevelopment project on East Road near Dublin Port.

The tower is part of a four-building scheme which will see the construction of almost 60,500 square metres of office accommodation – more than the combined proposed Ballsbridge high-rise developments of Ray Grehan and Seán Dunne.

Besides offices, the 15-storey tower will include shops and cafes on the ground floor as well as a rooftop restaurant which will feature a balcony offering views over the city.

The scheme will be located on a 5.48-acre site acquired by Carroll in 2006 which includes the former Cookes Bakery, owned by chef Johnny Cooke before it went into examinership in 2006 and was bought out by the McCambridge Bakery Group.

Under Carroll's plans, the tower will be surrounded by three smaller buildings ranging in height from four to eight storeys, one of which will house a 165-bed hotel. The other two buildings will consist almost entirely of offices.

The four blocks will share a two-storey underground car park with 770 parking spaces along with parking for over 420 bicycles. Access to the development will be from the East Road.

Despite the ongoing property slowdown and concerns about oversupply in the Dublin office market, Carroll has proceeded with plans for several high-profile developments, including plans to replace Dublin department store Frawley's with offices and apartments.

It is understand that Carroll has around €1bn in finance at the moment, having securitised his future rental incomes using two banks, one of which was Bank of Scotland (Ireland), last year.

Sunday Tribune

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