STRATEGY
Building fully let to Zurich. See out current lease agreement.
Explore reletting opportunities following a refurbishment process.
FACTSHEET
34,414
NSF
€10,200,000
PURCHASE PRICE
Capital Stack
Debt:Equity
Team
Blackbee
Finance Ireland
McCann Fitzgerald
Mathesons
Location
Blackrock
Date Acquired
March 2019
GALLERY
PROJECT UPDATES
FEB 2020
Architect selected: Horan Rainsford
Planning consultant selected: Thornton O’Connor
MAR 2020
Pre-application drawings complete.
Request for a pre-application meeting with DLR submitted mid-March - typically a 6-8 week wait. This is expected to be increased with COVID 19 impact.
Immediate COVID 19 impact: Minimal
No anticipated rental income issues.
Slower planning process - the full impact on the timeline is impossible to assess at present.
Additional planning consultants
Landscape architect: Stephen Diamond & Associates
MAY 2020
Pre app feedback received. Positive regarding height, density and design.
Additional planning consultants:
Structural engineer: CMD Consult
Civil engineer: Muir & Associates
Traffic: Atkins
AUG 2020
Planning application (Ref: D20A/0557) submitted to DLR: Aug 10, 2020. Website.
Keys planning dates:
Public consultation period ends: Sept 14, 2020
Decision date: Oct 2, 2020
Summary planning document: PDF
Marketing:
At various levels of engagement with several prospective tenants.
OCT 2020
DLR Issue RFI - PDF
JAN 2021
RFI submitted Jan 29, 2021. Decision due Feb 25, 2021 - PDF
FEB 2021
DLR Grant Permission Feb 24, 2021 - DLR Link
NOV 2021
Project for sale on open market @ €11M: