Developer Marlet begins work on Lime Street site in Dublin docklands

Apartments and offices will be built at former location of Irish Steam Packet Company

Image of Marlet Property Group’s completed Lime Street office development at 1909 Quayside in the Dublin docklands, where construction has just commenced

Image of Marlet Property Group’s completed Lime Street office development at 1909 Quayside in the Dublin docklands, where construction has just commenced

 

Developer Marlet has begun work on a high-profile site at Lime Street and Sir John Rogerson’s Quay in Dublin’s docklands that will hold offices and 100 apartments.

Marlet subsidiary Balark Investments recently won a court battle with the Johnny Ronan-controlled Chambury Investments allowing it to buy out the sites’s freehold.

The company has begun demolition and construction at the 1.7-acre Lime Street site, which is the last available in Dublin’s south docklands special development zone.

Tinnelly Demolition has begun site clearance and Marlet is close to appointing a main contractor for the work.

The developer has not said how much it is spending on developing the site, but recent reports estimated the cost of the development at €100 million.

Shipping business

Marlet plans to build 100,000sq ft (9,290sq m) of offices and 100 apartments on the site, which once housed a shipping business, the Irish Steam Packet Company.

Lime Street-Sir John Rogerson’s Quay is next to Cardiff Lane, where Marlet is building a six- to seven-storey office. Property dealer CBRE has been hired to sell this for an asking price of €152.8 million.

Marlet spent a total of €90 million buying Lime Street and Cardiff Lane in two deals.

The group, founded by Pat Crean, is focused on residential and commercial development.

It has 45 sites in Dublin with the capacity to hold more than 4,000 homes and about 650,000sq ft of offices. Marlet says it is actively seeking to add to its landbank.