485-unit development approved in Cabra for UK build-to-let investor Tristan Capital

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The planning board has approved a 485-unit residential development on the Carnlough Road in Cabra, Dublin 7, on lands originally purchased from CIÉ 16 years ago.

The build-to-rent scheme by UK firm Tristan Capital Partners - which acquired the site last year from Pat Crean’s Marlet Property Group for a reported €39m - includes nine blocks up to eight storeys tall.

In its newly published decision, An Bord Pleanála approved the plans subject to several conditions, including provisions for adequate traffic flow and a parking management plan. These stipulate the development should have a maximum of 403 car parking spaces and a minimum of 529 spaces for bicycles.

It said an environmental impact report would not be required.

The design includes a neighbourhood centre with space for a café, a convenience store, a gym and child care facilities, while one block will be devoted to community space, including co-working areas, meeting rooms and a cinema.

Marlet previously had received planning approval for a 420-unit development on the site, which runs parallel to the Phoenix Park rail line and is 1 kilometer from the Phibsborough Luas stop.

Tristan Capital, a London property investment firm, is already one of the State’s largest residential landlords with sizeable assets on the south side of Dublin.

Its local arm, Seven Cabra Real Estate, applied for planning permission in November under the Government’s fast-track Strategic Housing Development rules. These allow developers to apply directly to An Bord Pleanála for approval, bypassing local authorities, to speed housing delivery.

 

This article was first seen on https://www.independent.ie/business/commercial-property/485-unit-development-approved-in-cabra-for-uk-build-to-let-investor-tristan-capital-39077757.html

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