Developer Pat Crean’s Marlet Property Group has stepped in to acquire a prime 1.8 acre development site in Sandyford, south Dublin, for about €17 million following the withdrawal by a rival bidder of an offer of €23 million for the property. Facebook siteThe former Avid Technology site is located immediately beside Facebook’s latest office location at the Nova Atria South building, and within a short distance of Google’s offices at the Chase and Blackthorn buildings, and the Central Park campus. In the case of Prime Living, its decision to acquire the Sandyford site had been informed by its location just 3km from UCD, and its close proximity to two Luas stations, affording easy access to Trinity College and the Royal College of Surgeons. Prime Living holds a 70 per cent share in the venture and Cara Cove the remaining 30 per cent. Their first deal together involved the purchase of a 0.33-hectare (0.82 acre) development site in Letterkenny, Co Donegal, where they have plans to build about 136 bed spaces.

Source: The Irish Times January 29, 2020 06:00 UTC