Con­verted army bar­racks of­fers rentals with a dif­fer­ence

US prop­erty firm Kennedy Wil­son’s lat­est phase at Clancy Quay is the sym­pa­thetic con­ver­sion of the old court­yard and sta­ble area into up­scale rentals, with a num­ber of fam­ily units avail­able this time around too

The Irish Times - Thursday - Property - - The Market - ALANNA GALLAGHER

‘‘ Lo­cated in the build­ings where the sol­diers once slept above their horses, the orig­i­nal flag­stone floors and stone stair­cases re­main

De­scrip­tion: Two-bed apart­ments and two-, three­and four-bed houses to rent Agents: Sav­ills and Kennedy Wil­son Any­one who rents in Dublin knows just how hard it is to find a place where you can put down roots and not have to move when ev­ery 12-month lease ex­pires.

The two-year fixed rent leg­is­la­tion in­tro­duced last Oc­to­ber has helped dampen the an­nual rent in­creases many have had to en­dure, but with fig­ures from the 2011 cen­sus putting the over­all per­cent­age rent­ing at 29 per cent, this mar­ket still lacks a se­cu­rity of ten­ure seen in main­land Europe.

US prop­erty in­vest­ment firm Kennedy Wil­son has built its rental port­fo­lio to some 25,000 units world­wide across the US, UK, Ja­pan and here in Ire­land where it has snapped up distressed res­i­den­tial com­plexes, re­fur­bished them and, in some cases, added ameni­ties.

The com­pany now has 1,138 units un­der man­age­ment in Dublin across six de­vel­op­ments: Alto Vetro at Grand Canal Dock and The Al­liance on South Lotts, both in Dublin 4; Lif­fey Trust at the Point Vil­lage and Sand­ford Lodge and Van­tage, Leop­ard­stown both in Dublin 18. It has an­other 719 units in de­vel­op­ment.

Clancy Quay is the jewel in its Ir­ish res­i­den­tial crown. In mid-2013 the firm paid ¤82 mil­lion for the 13-acre for­mer Clancy Bar­racks site. It in­cludes a series of cut-stone build­ings and sta­bles that date from about 1857 and there will be 800 units on the site once com­pleted.

Phase two adds a to­tal of 46 homes to the rental mar­ket, and they are very dif­fer­ent in that 35 are in the orig­i­nal cut-stone bar­racks, with a sym­pa­thetic re­fur­bish­ment by O’Ma­hony Pike Ar­chi­tects.

Lo­cated in the build­ings where the sol­diers once slept above their horses, the orig­i­nal flag­stone floors and stone stair­cases re­main. A fur­ther 32 units in phase two launch in Oc­to­ber and 85 more will be com­ing on stream in 2017.

Rental rates

There will be eight one-bed­room apart­ments, about 64sq m/695sq ft in size rent­ing from E1700 to E1900 de­pend­ing on its size; 18 two-bed apart­ments, about 76sq m /821 sq ft and nine two-bed­room houses, about 92sq m/1001sq ft that will rent be­tween ¤2,250 and ¤2,400.

In ad­di­tion there will be five three-bed­room and six four-bed­room new build houses, re­spec­tively 123sq m /1329 sq ft and 168 sq m/1819sq feet and rent­ing for ¤3,000 and ¤3,400.

The ac­com­mo­da­tion is con­tem­po­rary with good ceil­ing heights and orig­i­nal floor­boards re­tained in the first-floor prop­er­ties.

The ground floor units in­clude a south-fac­ing ter­race com­plete with pa­tio fur­ni­ture – a real boon.

The en­tire com­plex cen­tres around the orig­i­nal of­fi­cers’ mess, named The Cob­bles. This was re­fur­bished by the orig­i­nal de­vel­oper of the site but was re­freshed by RKD Ar­chi­tects for Kennedy Wil­son and now feels like a bou­tique ho­tel lobby, com­plete with concierge to take parcels, let work­men into your apart­ment and even hold your dry clean­ing for you.

Ameni­ties

Above this is a suite of rooms that ten­ants can use for free. They in­clude a me­dia room com­plete with Plays­ta­tion, a games room with a pool ta­ble and a shared high-end kitchen. Ten­ants have used these rooms for all sorts of pri­vate par­ties, in­clud­ing chil­dren’s birth­days, or just to re­lax and read the pa­pers.

On the sec­ond floor is a series of of­fice-like cu­bi­cles while a board­room-style meet­ing room is also avail­able. So­cial events in­clude a book club, speed friend­ing nights and wine and cheese evenings fea­tur­ing the wares of on-site shop The Yard. There is also a stu­dio and gym.

The ad­di­tion of the three­and four-bed­room houses will in­crease the pro­por­tion of fam­i­lies in Clancy Quay, cur­rently about 15 per cent of the ten­ants. The com­pany is also adding a play­ground in Septem­ber.

The prop­er­ties are avail­able from Mon­day, July 4th and will be ad­ver­tised through by Sav­ills and Kennedy­wilson­res­i­den­tial.ie

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