Development Land: A little known property development company, Profile Properties, run by the businessman David Agar has paid more than €60 million for two Dublin sites in recent weeks.
The company has emerged as the purchaser of a well located development site of four acres at Brighton Road in Foxrock which made just over €20 million when it was marketed by Lisney.
Agar and his business partner George Tracey are planning to develop a small number of high end homes on the site.
Profile Properties has also paid more than €40 million for 90 acres of newly zoned commercial and industrial land at Kilcarbery in south-west Dublin. The land adjoins a further 10 acres already owned by the company directly opposite Kilcarbery Business Park.
This park first opened five years ago and has attracted a range of high profile businesses including Ballygowan, C & C, Gleneely Foods, TDG Distribution and Metrolplex, the distribution arm of McDonalds. The park has won the "Business Park of the Year" award from South Dublin County Council in both 2003 and 2004.
The 100 acres assembled by Profile Properties will trade as Profile Park and will be one of the largest of its kind in south Dublin. It is likely to accommodate about 185,806sq m (2 million sq ft) of industrial, office and commercial buildings.
The park will overlook Grange Castle Golf Club and will extend from Nangor Road up to Casement Aerodrome in Baldonnel. It will be strategically located with 300 metres of the new outer ring road, linking up with both the N7 and the N4.
Profile is understood to have reached agreement with a major company on providing space in Profile Park. Several other companies are also in discussions on the acquisition of sites in the new facility.
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