Dunne set to bid for €100m State-owned site

Property developer and Jurys Doyle shareholder Sean Dunne is likely to bid for a €100 million State-owned property close to a prime site he recently bought from the hotel group.

The Office of Public Works (OPW) is set to invite offers for the former veterinary college in Ballsbridge, Dublin, on November 30th.

The site measures close to one hectare and it is estimated that it will fetch over €100 million for the State when it is sold.

The college is at one side of the site that contains two Jurys hotels for which Mr Dunne recently paid €260 million in what was reckoned to be the biggest land deal in the State's history.

Mr Dunne is also set to bid for the Berkeley Court, another property which adjoins the site and which the hotel group intends to sell.

He has already made it known that he is also interested in the veterinary college, and it is understood he will make an offer for the property at the end of the month.

However, Mr Dunne is unlikely to be the only bidder, as the site's location and size make it attractive for any developer.

Mr Dunne, who controls Mountbrook Homes, wants to build high-rise apartment blocks on the Jurys site, and ownership of the college would give him further scope for that development.

It is Government policy to encourage high-rise development in areas with good transport connections. Mr Dunne believes the Ballsbridge site is ideal as it is close to the Dart suburban rail line and a number of bus routes.

Mr Dunne holds 28 per cent of Jurys Doyle, for which members of the Doyle family recently offered €1.25 billion. They intend delisting the company from the Irish Stock Exchange and taking it private.

The property developer has ruled out making a bid for the group himself. However, after signing the deal on the Ballsbridge site two weeks ago, he said that he would be happy to stay in the group as a significant minority shareholder.