The Kerryman (South Kerry Edition)
KERRY MAN PLANS TO BUILD 1,500 HOMES IN DUBLIN
BALLYHEIGE MAN’S COMPANY BEGINS WORK ON MASSIVE DUBLIN PROJECT
A KERRY developer is planning to start demolition of a number of large buildings on adjoining sites in south Dublin where it’s been estimated as many as 1,500 apartments could be built.
Ballyheigue native Pat Crean’s Marlet Group acquired the 6.9-hectare site – comprising three separate parcels of land – last year, with backing from M&G Investments, a unit of insurance group Prudential.
It was reported last year that Marlet is likely to have paid in the region of €16m for the three individual sites that make up the 6.9 hectares.
Mr Crean is well-known in Kerry thanks to his involvement with Sherry Fitzgerald Stephenson Crean’s auctioneers in Tralee.
Marlet intends to demolish several 7,000 sq m-to-11,000 sq m factory and office complexes on the sites and has applied to South Dublin County Council for permission to do so.
Last month, Marlet also secured planning permission to develop 420 homes on land formerly owned by the CIE in Dublin’s Cabra.
Between them, the four sites are expected to eventually house over 1,500 apartments and living units.
The sites involved in the plan are understood to form part of an extensive portfolio of sites that were assembled by Mr Crean and his former business partner Greg Kavanagh during their time together at the helm of New Generation Homes.
Mr Crean and Mr Kavanagh’s partnership came to an end in October 2016 and the majority of the property assets owned by New Generation transferred to Marlet Property Group, which is headed by Mr Crean.
Pat Crean had worked with Greg Kavanagh since 2011 when New Generation Homes began speculatively acquiring sites around the capital at prices far below their boom-era peak values.
Following the end his five year partnership with Mr Kavanagh – which was on good terms – Mr Crean wished his colleague well in his future endeavours and outlined his own plans.