KAJIMA SECURES FINANCING FOR €100M IRISH PRS SCHEME

Kajima has secured a green finance loan from Allied Irish Bank for a 258-home residential scheme in Belmayne, Dublin. The €100+ million scheme will be delivered by a joint venture between Kajima and Bartra.

Building on the purchase of the site last year, the funding also advances the appointment of John Sisk & Son as design and build contractor for the project. Work is due to start imminently and be completed in 2025.

The scheme, which is named O’Neill Court, received planning permission last year and is set to achieve LEED Gold standard for sustainability (Leadership in Energy and Environmental Design, U.S. Building Council). As part of the plans, and working with an Approved Housing Body, 50 homes will be available for social residents with the remaining 208 homes provided for private rental.

The development will comprise a mix of one-, two- and three-bed homes, as well as more than 500 sqm of residential amenity facilities including a fully equipped gym, media room, workstations, parcel reception, concierge and relaxation area. The development will be WiredScore certified, which means it will have excellent internet connectivity. The homes will be suitable for both professionals and families looking for suitable suburban living that remains close to the city centre, as the site is supported with strong infrastructure connections as well as local amenities.

Designed by McCrossan O’Rourke Manning Architects, the scheme consists of three buildings, up to seven-storeys. These will surround two podium gardens that provide high quality landscaped green spaces for residents and play areas for children. The gardens sit above accessible parking including 400 bicycle parking spaces, with all car parking spaces being electric vehicle parking compatible. On the ground level, further trees and planting will be delivered to create an attractive new streetscape, which links the site to the nearby quality bus corridors and rail station.

Dwayne McAleer, Managing Director at Kajima Ireland, said:

“This scheme will provide a fantastic place to live for families and professionals alike. Building on the purchase of the site last year, Kajima has continued its investment in bringing this fantastic project to construction, with EU Green Loan debt financing now secured from AIB in challenging times. We have assembled an excellent team for this project, including Sisk who have worked in partnership with Kajima, Bartra and our team throughout the lead-in process to construction. With this team’s support we look forward to seeing this project come to fruition, as well as developing further projects in the Irish living sector, a hugely exciting market.”