Having recently received offers in excess of €1 billion for its Castle residential platform, developer Pat Crean's Marlet Property Group has appointed Walls Construction as the main contractor responsible for the delivery of the largest scheme in the portfolio.
Located next to the Guinness Storehouse in Dublin 8, Grand Canal Harbour will upon completion in the first quarter of 2024, comprise 596 apartments, 76,000sq ft (7,000sq m) of retail, medical, co-working and childcare space and 18,000sq ft (1,700sq m) of amenity space.
Some 54 per cent of the site is to be given over to public spaces including a public plaza offering a flexible outdoor space for open-air markets and events.
The development will be fully pedestrianised and feature large landscaped areas, including roof terraces, which have been designed to enhance biodiversity and provide what the developer describes as “a green oasis in the heart of the city”, with semi-open winter gardens to facilitate all year round and all-weather use.
The curved harbour warehouse and the historic walls of the original terminus of the Grand Canal will be fully restored and refurbished, and become a central feature of the development.
Commenting on his company's selection for the Dublin 8 scheme, Adrian Corcoran, construction director at Walls Construction, said: "We are delighted to be appointed main contractor on this project which will be a tremendous addition to an historic part of Dublin. It marks a continuation of our relationship with Marlet Property Group on major projects, and will be completed to the highest standards of building excellence and sustainability, while providing exemplary public amenities."
The Grand Canal Harbour scheme forms part of the wider Castle residential platform, a portfolio of some 2,000 apartments and duplexes distributed across six sites in the capital which Marlet intends to complete between now and March 2024.
Upwards of a dozen parties including Kennedy Wilson, Axa, Blackstone, Union Investment, Angelo Gordon, Cortland, Nuveen Real Estate, Lone Star, Greystar, and a joint venture involving Orange Capital Partners and GIC are understood to have expressed their respective interest in acquiring the private rented sector (PRS) platform in advance of its scheduled delivery.