KERRY MAN PLANS TO BUILD 1,500 HOMES IN DUBLIN

BAL­LY­HEIGE MAN’S COM­PANY BE­GINS WORK ON MAS­SIVE DUBLIN PROJECT

The Kerryman (North Kerry) - - FRONT PAGE - By SI­MON BROUDER

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.

Kerry prop­erty de­vel­oper Pat Crean

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