IRES Reit granted permission for 428 Sandyford apartments

Irish Residential Properties Reit has been granted planning permission for almost 430 apartments at Rockbrook in Sandyford, Dublin 18.

The scheme was approved by An Bord Pleanála through the Strategic Housing Development planning process. The development will consist of 428 apartments in two blocks ranging from studios to three-bedroom units, a creche, four commercial units and residents' communal space.

The latest approval brings to 628 the number of units the company has been granted permission for on its existing sites.

Key milestone

Ires chief executive Margaret Sweeney said permission for the Sandyford development was a key strategic objective for its growth strategy.

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“We are delighted to have achieved this key milestone and the opportunity to provide additional supply of residential accommodation for rental in the Sandyford area,” she said.

In a note, Davy said the approval was “another positive step forward” for the company. “This provides a significant opportunity for future growth and is a strong validation of the company’s operating processes in Ireland,” Davy’s Colin Grant said.