NAMA invites expressions of interest in relation to key site in Poolbeg West SDZ
26 Jul 2019)
NAMA invites expressions of interest in relation to key site in Poolbeg West SDZ
- Site has potential to deliver up to 3,500 homes and 1m sq ft of commercial space
Friday 26th July 2019 – The National Asset Management Agency (NAMA) has today invited expressions of interest regarding lands located within the designated Poolbeg West Strategic Development Zone (SDZ).
Interested parties are invited, through an open market process, to subscribe for a majority 80% shareholding in an entity (“Pembroke Ventures DAC”), currently a NAMA group entity, which ultimately owns the lands. The lands extend to approximately 37.2 acres and are located at Pembroke, Dublin 4.
The Planning Scheme for the SDZ was formally adopted by An Bord Pleanála in April 2019 and facilitates a mechanism for the fast-tracking of planning applications for development.
The site has the potential to deliver up to 3,500 residential homes (including 10% Part V and 15% social and affordable homes) and approximately 1 million sq. ft. of commercial development, as well as a school site and community and public open spaces.
NAMA Chairman Frank Daly and NAMA Chief Executive Brendan McDonagh said:
“The development of Pembroke provides a unique opportunity to make a significant contribution to Dublin’s housing needs as it is one of the few large, centrally located development opportunities in Dublin City.
Today’s announcement, coming just 3 months after the SDZ Planning Scheme was adopted by An Bord Pleanála, represents a key milestone in the progression of the commercial delivery strategy for the site, in line with our section 10 objectives.”
Note to Editors:
The request for expressions of interest document (REI) and the Pembroke brochure are available onwww.PembrokeDublinFour.com and accessible via a link on www.nama.ie.
The Site has the benefit of a designation as part of the Poolbeg West Strategic Development Zone (SDZ). The SDZ Planning Scheme was formally adopted by An Bord Pleanála by means of Order ZD2013 dated 9th April 2019 and sets out the nature and extent of development that is obtainable. The confirmation of a Planning Scheme for Poolbeg West SDZ facilitates a mechanism for the fast-tracking of planning applications for development.
A planning application (Reg. Ref. No. PWSDZ3270/19) to provide the Phase 1 Enabling Infrastructure, which will facilitate the development of up to one-third of the site, has been lodged with Dublin City Council. A public realm masterplan and infrastructure has been prepared that builds on the vision set out in the Planning Scheme. Together, the planning application and masterplan are currently under consideration by Dublin City Council.
Details of the planning application and masterplan are available at www.PembrokeDublinFour.com and are also available on Dublin City Council’s website (www.dublincity.ie).
Evolution of the SDZ
January 2015 – initial request from Dublin City Council (DCC) to the Department of Housing relating to the designation of the lands as an SDZ
May 2016 – Government order designating the 34 hectares in the western area of the Poolbeg Peninsula as a SDZ on the basis of their economic importance to the State. DCC as the appointed Development Agency were charged with the preparation of a Draft Planning Scheme within two years of the making of the Order.
October 2017 – DCC approved the Poolbeg West SDZ Planning Scheme.
April 2019 – An Bord Pleanála approved the Poolbeg West SDZ Planning Scheme.
June 2019 – Lodgement of first planning application for phase 1 infrastructure, including public open space
Issued on behalf of NAMA by
Gordon MRM
Contact David Clerkin