Sunday 21 December 2008

O'Reilly's €1bn O'Connell Street scheme gets green light

Plans for a €1bn retail scheme at O'Connell Street in Dublin have been given the go-ahead by Dublin City Council. Joe O'Reilly's Chartered Land has been told it can develop its Dublin Central scheme, which will cover a site stretching from O'Connell Street to Moore Street and Henry Street to Parnell Street. John Lewis has already been secured as the anchor shop for the development by letting agent Bannon.

The council granted permission subject to 32 conditions, including a stipulation that there be free public access to the proposed 'Sky Park' and that only 769 parking spaces be provided.

O'Reilly will have to pay the council nearly €9.5m in contributions before work is allowed to proceed and will also have to pay nearly €2.3m towards the construction of Metro North. He will have to pay €50,000 to the council to carry out a "comprehensive traffic study on the operation of the proposed car park in city centre street network". This study will take place about six months after the opening of the development.

The council decided to allow the development after Chartered Land submitted changes to its original plans in October, one of which was that the Sky Park would actually face the sun rather than away from it. The height of the building was also reduced, along with the heights of other buildings.

O'Reilly's assets include stakes in Dundrum Town Centre, The Pavilions in Swords, the Ilac Centre in Dublin 1 and the new retail scheme at South King Street in Dublin 2. He is also developing offices in the city's south docks. Through his holdings in Castlethorn Construction, he is involved in the Adamstown development and the Rathborne scheme at Ashtown in west Dublin.

Sunday Tribune

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