Nama are to finance a €150 development at Boland’s Mills which will see the historic site converted to mixed use.
The development will include 36,759m2 of residential, office and retail space.
Mark Reynolds of Savills said: “Dublin City Council’s decision to grant planning permission for the development of Boland’s Mill is great news for the docklands and Dublin as a whole. The purpose of designating the area an SDZ was to facilitate fast track planning applications for much-needed commercial and residential development – this shows it has worked. The planning approval will now facilitate the examination of options regarding the provision of badly needed commercial and residential accommodation to meet pent up demand from local occupiers and foreign direct investment.”
NAMA chief executive Brendan McDonagh said: “NAMA welcomes Dublin City Council’s planning approval for this key Dublin landmark site. The Agency recognises the positive and proactive approach of the City Council, both in approving the SDZ Scheme in 2014 and in progressing complex planning permissions such as this one, since then. NAMA is committed to increasing the value of secured assets in our portfolio and maximising the amount we can recover for taxpayers. Our funding of this successful application for planning permission by the receiver demonstrates this commitment. It also shows what NAMA can do to facilitate high-quality developments in the South Docklands area and to accelerate the delivery of much needed office and residential accommodation in Dublin’s central business district”.