Move-in dates for luxury development unchanged after water leak

A burst valve at the Capital Docks development leaked for about 20 minutes

Kennedy Wilson’s Capital Docks development in Dublin’s south docklands. Videos on social media showed a considerable amount of water on floors and going down stairwells.

Kennedy Wilson’s Capital Docks development in Dublin’s south docklands. Videos on social media showed a considerable amount of water on floors and going down stairwells.

 

Move-in dates for prospective tenants of the Kennedy Wilson Capital Docks development in Dublin are unchanged after a burst valve caused water to flow through the building.

The valve, which burst on the building’s 22nd floor, leaked for about 20 minutes, a spokesman said, but damage was limited.

Videos on social media showed a considerable amount of water on floors and going down stairwells. The spokesman said the majority of water has landed in the basement car park and “usual mitigation measures” are now in place.

He added there would be no cost implications for the developer as a result of the leak.

The building affected by the leak was the one which will in January be occupied by residential tenants.

The residential scheme in Dublin’s south docklands advertised two-bedroom units for €3,300 a month including an onsite concierge, a cinema, 24-hour security, a gym, resident loungers and business suites.

Joint venture

Built by Kennedy Wilson as part of a joint venture with Nama and Toronto-headquartered Fairfax Financial Holdings, Capital Docks is Ireland’s tallest residential building.

Kennedy Wilson has an 85 per cent stake in the development, and Nama 15 per cent.

The apartments are part of a broader campus that will have more than 690,000sq ft of new mixed-use space, including offices for US investment bank JP Morgan and recruitment group Indeed.

There will also be more than 1.5 acres of public park space, and a substantial retail and leisure element.