NAMA invites expressions of interest in relation to key site in Poolbeg West SDZ

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NAMA invites expressions of interest in relation to key site in Poolbeg West SDZ

The National Asset Management Agency (NAMA) has 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.”

Article Published: 26/07/2019