Development Securities today announces that in joint venture with Colony Capital, LLC, and companies associated with Mr McKillen and Mr Ronan, it has exchanged contracts to acquire a 1.7-acre development site in Dublin for €40.5 million.
The site benefits from an existing planning consent for the development of a 166,000 sq. ft. grade A office building which would replace the existing five storey, vacant office building that currently occupies the site. Located on Burlington Road, within Dublin’s prime commercial core, the site is well connected with excellent access to transport links across the city.
The office development will be marketed for pre-lets over the near-term with initial site works expected to commence within the next 6 months and the building anticipated to complete in mid to late 2016.