Hammerson puts a £42.6million price tag on 88 Dundrum flats for social housing

The owner of Dundrum Town Center has put a guide price of €788,741 on three-bedroom apartments which he is offering to sell to a local council for social housing.

As part of its social housing obligations under planning legislation, UK property giant Hammerson is offering to sell 88 flats for an indicative price of €42.6million to Dun Laoghaire County Council Rathdown.

The proposal under Part V of the Planning and Development Act 2000 represents 10% of the £466 million 881-unit apartment scheme that Hammerson is proposing to build in Dundrum.

As part of the accelerated program filed with An Bord Pleanala, a subsidiary of Hammerson, Dundrum Retail GP, has confirmed that the Strategic Housing Development (SHD) proposal will include a 16-storey apartment building at the highest point north of the site.

The project is to be made up of 11 blocks spread over four areas and the developers are asking for an eight-year planning permission to complete the ambitious plan.

The development would include 335 one-bedroom apartments, 85 three-person two-bedroom apartments; 379 two-bed apartments for four people and 82 three-bed apartments.

Social housing

As part of the proposed Part V social housing agreement, subsidiary Hammerson has also put a guide price of €567,708 on two-bed apartments and €385,301 on one-bed units.

It proposes to sell 46 one-bedroom apartments, 37 two-bedroom apartments and five three-bedroom apartments for social housing.

In a letter attached to the indicative costs, BMA Planning, on behalf of the Hammerson subsidiary, states that “the estimated costs are intended to provide a reasonable estimate of the costs and values ​​of the proposed Part V units based on construction costs and values ​​in force at the time of this request”.

In a response to the petitioners, the board stated that “although the unit costs exceed the board-approved acquisition cost threshold, it is recognized that the costs shown are estimates as the actual cost cannot be quantified at this stage. preliminary”.

The letter later adds that “if planning permission is granted, council may request a review of the Part V proposal following an assessment of costs and land values, a review of current housing demand and determination of availability of funding”.

The program will also include 10 retail units, a retail food store, four cafes/restaurants and a crèche.

In addition, the scheme will also include a new public open space known as Church Square to the rear of Holy Cross Church in the village of Dundrum.

As part of a comprehensive planning submission filed with the project, BMA Planning states that the proposed development of the Dundrum Village site was an appropriate response for the location site and “would provide high quality residential and support uses in the center of the village at a central and accessible location. place to regenerate.

The developers of the scheme say the vision is to provide a contemporary and vibrant place to live, underpinned by the re-establishment of the traditional shopping thoroughfare along Dundrum Main Street.

A decision is expected on the program at the end of July and those wishing to submit proposals on the proposal have until May 9 to do so.

Richard L. Militello