Sunday 23 November 2008

Quinlan to ‘amalgamate’ houses worth €27m

Financier Derek Quinlan has applied for planning permission to ‘‘amalgamate’’ two houses on Shrewsbury Road in Dublin that he bought for €27 million.

Quinlan had originally planned to demolish number 1 and number 3 Shrewsbury Road and build a new home, but now plans to turn the existing houses into a single seven-bedroom house over four levels.

He is seeking to demolish part of the rear of number 1 and two sheds on the site and amalgamate the ‘‘remaining structural elements’’ of number 1 and number 3.

Quinlan’s plan for the houses that he bought in 2006 involves an extension to the front, rear and sides of the enlarged house, the construction of a basement and ‘‘reorganisation of internal accommodation’’.

The entrance at number 1 would be closed off, leaving all access at number 3 to ‘‘serve the amalgamated single family residential unit’’, according to his planning application. Quinlan currently lives at number 6 Shrewsbury Road.

He heads Quinlan Private, which manages assets worth about €11 billion and owns properties worldwide. The investment firm recently made a number of staff cuts because of the global downturn.

Shrewsbury Road has been the scene of several planning disputes. Telecoms entrepreneur Denis O’Brien and businessman Niall O’Farrell have had plans for the road denied, while residents have consistently objected to the redevelopment of the former Chester Beatty library.

Described by residents as ‘‘the premier showcase roadway in the city of Dublin’’, it is home to Walford, which was sold in 2005 for €58 million, making it the most expensive house in Ireland.

The offices of the Pharmaceutical Society of Ireland are on the market for €25 million, but the sale has been delayed for legal reasons.

Sunday Business Post

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