Allied Irish Bank funds Kajima’s €100m Dublin PRS scheme
Japanese developer Kajima has secured a green finance loan from Allied Irish Bank for a €100m-plus (£87m) residential scheme in Belmayne, Dublin.
The 258-home O’Neill Court scheme will be delivered by a joint venture between Kajima and Bartra. Bartra has also been appointed as development and project manager. John Sisk & Son has been appointed as design and build contractor for the project.
The development, Kajima’s first residential scheme in Ireland, received planning permission last year. Some 50 homes will be available for social residents, with the remaining homes provided for private rent.
Japanese developer Kajima has secured a green finance loan from Allied Irish Bank for a €100m-plus (£87m) residential scheme in Belmayne, Dublin.
The 258-home O’Neill Court scheme will be delivered by a joint venture between Kajima and Bartra. Bartra has also been appointed as development and project manager. John Sisk & Son has been appointed as design and build contractor for the project.
The development, Kajima’s first residential scheme in Ireland, received planning permission last year. Some 50 homes will be available for social residents, with the remaining homes provided for private rent.
It will comprise a mix of one- to three-bedroom homes, with more than 5,400 sq ft of facilities, including a gym, media room, workstations, parcel reception, concierge and relaxation area. It will also include car parking and space for 400 bicycles.
The development will be WiredScore certified and is set to achieve LEED Gold standard for sustainability.
The scheme, designed by McCrossan O’Rourke Manning Architects, will be spread across three buildings of up to seven storeys.
The site is situated in the northern Dublin suburb of Belmayne, close to Northern Cross in the north fringe business district. It is part of a wider local authority masterplan, with similar developments already completed. Construction is expected to be complete in mid-2025.
Dillon Marshall has been appointed as lettings and property manager, while Hooke & MacDonald will act as the selling agent.
Advisers to Kajima and Bartra on the transaction include EY Debt Advisory, LK Shields, JPA Brenson Lawlor, Linesight, AON, Aecom and HRA Planning.
Dwayne McAleer, managing director at Kajima Ireland, said: “This scheme will provide a fantastic place to live for families and professionals alike. Building on the purchase of the site last year, Kajima has continued its investment in bringing this fantastic project to construction, with EU green loan debt financing now secured from AIB in challenging times.”
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