Council adds condition to Citywest scheme to prevent bulk-buying by investors

South Dublin County Council has moved to prevent institutional investors bulk-buying houses and duplex units from a large new Glenveagh Homes residential development in west Dublin. The council had previously granted planning permission to Glenveagh to construct 376 new homes at Citywest.

The large-scale residential development (LRD) – Citywest Brownsbarn – did not attract a single objection.

In a bid to prevent bulk-buying of houses, the council has included a condition under the heading “Regulation of institutional investment in housing”. As part of the condition, the council is requiring that the first occupation of all houses and duplex units be done by individual purchasers.

The condition does not apply to apartments in the scheme.

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The council said that the purpose of the condition is to ensure an adequate supply of housing, including affordable housing, for the “common good”.

Glenveagh initially lodged plans to construct 384 units, made up of 122 houses, 84 duplex units and 178 apartments in four blocks ranging from five to seven storeys. .

The LRD is located south of Citywest Avenue and west of Cheeverstown Park and Ride in Brownsbarn.

When granting planning permission, the council ordered the omission of eight units from the scheme after concluding that the proposal would “assist in providing an appropriate density of development on lands well served by high-quality public transport, and proximate to local services and amenities”.

Glenveagh had proposed providing 77 units of the overall development for social and affordable housing, and that total will be reduced slightly to 75 following the council’s decision to omit eight of the homes.

Glenveagh had put a price tag of €19.1 million on the 77 homes and t it and the council will enter negotiations on a final price.

McCutcheon Halley, the planning consultants for Glenveagh Homes, said that the proposed development would “provide for efficient use of this undeveloped site”.