Irish developers, Red Rock Developments have sold their completed apartment scheme for €20m to global asset manager, Aberdeen Standard Investments (ASI).
The 39-apartment development, located at 19/20 Blackhall Street, is ASI’s first investment in Ireland’s fast-growing private rental sector. The price paid for the portfolio equates to an average of €512,820 per unit. ASI has entered a deal with Dublin City Council to lease the entire development on a 25-year inflation-linked lease. The development is set to meet the high demand for social housing in the Smithfield area.
The scheme consists of 39 luxury apartments split over 2 blocks, extending six storeys high. It features a single-storey basement, an open external courtyard, green roofs, and tenant amenity spaces, such as a resident’s lounge and a glazed hot-desk space in the courtyard. The high-specification apartments are accessed from an internal courtyard through an external lift core with an external walkway at each level.
Located in Dublin 7, the development is surrounded by popular and historic areas of the city such as the Four Courts and the Law Society. Residents will also have immediate access to key bus routes, Luas stops, Heuston Station, universities, and the Henry Street shopping district.
CGI consultants, 3D Design Bureau, liaised with the development team to provide 3D marketing solutions. 3D Design Bureau produced presentation photomontages and aerial photomontages which are being used for marketing purposes with national media covering the project.
Project Name: Blackhall Street Social Housing
Site Location: 19/20 Blackhall Street, Smith field, Dublin 7
Stage: Complete
Developer & Main Contractor: Red Rock Developments develop ultra-modern, high-quality family homes and apartments in sought-after urban locations.
Developer: Aberdeen Standard Investments is dedicated to helping investors around the world reach their desired investment goals and broaden their financial horizons.
Architect: Niall D Brennan & Associates is a leading international Architectural Practice that together with clients brings passion, enthusiasm, and discipline to every project.
Planning Consultant: Hughes Planning & Development Consultant provides a national planning service and undertakes a wide variety of commissions for both public and private sector clients.
Consulting Engineer: CS Consulting Group provides a reliable, highly innovative, and responsive engineering consultancy service and is based in Dublin, Limerick, and London.
Contractor: Vision Contracting Ltd is focused on providing a diverse range of construction services and solutions across many sectors
Real Estate Agent: Owen Reilly provides a professional estate agency service for clients with interests in property throughout Dublin.
CGI Consultants: 3D Design Bureau – are specialists in architectural visualisation, BIM and VR – delivering quality design planning and marketing solutions. For this project, 3D Design Bureau produced presentation photomontages and aerial photomontages which are being used for marketing purposes with national media covering the project. They are based in Blackrock, Co. Dublin.
Planning permission is being sought for one of Ireland’s largest residential developments to date. 4 mix-use blocks that will range in height from 4 to 11 storeys.
Irish developers. O’Flynn Group have received planning approval from Dublin City Council for one of the country’s largest developments in history.
When complete, Beechpark will comprise a total of 225 homes made up of 83 houses and 142 apartments. The scheme was first launched in November 2019 which continual phases of 25-30 homes being launched and residents moving in.
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