€100m Dublin docklands development held up in row over leases

An investment company has claimed efforts to proceed with a €100 million development on part of Dublin’s south docks are being frustrated in a row over leases.

Balark Investments is behind the plan to redevelop a site at the junction of St John Rogerson’s Quay and Lime Street.

A planning application is under consideration for a development including an eight storey 14,000 sq metre commercial building with another 960sqm of retail space within an existing protected structure.

The plans also include 91 apartments in a six to seven storey building. Balark says it is in the process of acquiring freehold interest in all of the land in order to make it more attractive for purchasers.

It alleges Chambury Investment Company, which owns the ground rent interest in two small sections of the property fronting onto Sir John Rogerson's Quay, is attempting to frustrate Balark.

One plot is 246 feet by 30 feet in size and the other is 176feet by 30 feet. Chambury has disputed Balark’s right to acquire freehold and also claims to have served forfeiture notices in relation to the land for alleged breaches of the lease covenant. Balark says the forfeiture notices are invalid and Chambury has refused to withdraw them.

Balark has asked the Commercial Court to rule on the dispute given the €100 million value of the development and so it can move ahead with efforts to develop the project. Chambury objected to the matter being admitted the commercial list, arguing it is a landlord/tenant dispute which should go through the normal High Court list. Mr Justice Brian McGovern said given the size and value of the project, he would admit the case to the commercial list and retured it to the end of June.