Comers are set to build 3,000 homes by Dublin Airport-Indo


#1

independent.ie/business/iris … 92257.html

They may have difficulty getting planning permission for the residential development - it’s extremely close to the airport (well within the “red zone”) and DA had objected to the developments at Northwood, on the other side of the M50


#2

Ummmmm

Yeah. Great reporting by the Indo there.


#3

Maybe it has to do a 53km loop to (a) bypass planning objections and (b) take in lands that are owned by vested interests.


#4

A science park?


#5

I presume this means a warehouse for pharma logistics.


#6

So 90’s.


#7

Mono rail anyone?


#8

Regardless of planning for that amt of residential,who in their right mind wants to live so close to an airport?


#9

Are you suggesting its a job for Lyle Lanley FF TD ?


#10

Plane spotter!


#11

London commuters. I can see the ad now - A fantastic two bed closet, only one hour from London.


#12

Those boys have made a lot of money of late by calling the bottom correctly. Looks like they’re not ready to call the top just yet either.


#13

Funny you say that mortgageboy. I heard an interview with them on the radio a week or so ago where they basically said they thought it was a bubble


#14

No, it’s more of a North Haverbrook idea.


#15

Hasnt anyone told them builders cant afford to build houses in dublin. They would be loosing money blah blah blah.

All the land to the north of the M50 is zoned industrial so it must be a sight in ballymun. :wink:


#16

Maybe. I don’t know what their future plans are. But they’ve done well so far. Eg,

"With some 130,000 square feet set aside for apartments in Number One Ballsbridge, Comer and his partners stand to clear a net profit of around €25m on the residential element of the development alone according to property industry sources.

Which is pretty impressive when one considers the figure doesn’t even include the income to be derived from selling the car parking spaces in the underground four-storey car park.

Nor does it include the money to be made from the 175,000 square feet of office space at Number One Ballsbridge, which Comer says has already attracted significant interest from what he describes as “big multinationals”. Once the costs of building those offices are stripped out, the Galway-born developer and his Mayo-based partners will be looking at millions in pure profit.

Comer is the first to recognise how good a deal they got with the Ballsbridge site. Commenting on the massive interest in prime Irish property assets among international investors, he said: “It’s not that easy to buy stuff anymore. In 2011, we had the market to ourselves for about six months, and then gradually you would have another bidder. You thought they were bluffing you for a while, and then last year you knew they weren’t bluffing you anymore.”
independent.ie/business/iris … 75775.html
And they bought plenty more in 2011/12.