The Dublin skyscraper project has been thrown into doubt after officials refused planning permission. Mountbrook Group has been told the long-awaited redevelopment of the D4 Hotels site at Ballsbridge, Dublin, has been rejected by the local council.
First proposed four years ago, the skyscraper development was to see leisure facilities, offices and 536 apartment homes in what would also have been one of the most ambitious real estate projects ever seen in Ireland.
But in a statement Mountbrook Group said it planned to submit a new application after ‘considering’ the rejection, which was delivered after officials decided the scheme was too intense.
The company also slammed the local planning system, saying it held back the local economy and progress of new real estate.
It listed another partial rejection of one other scheme, and another outright ‘no’ to a district centre development, saying the second came after the firm complied with requests to alter plans.
Mountbrook Group said: “These apparent contradictions within our planning system are detrimental to the country’s economic progress, job creation and development.”
Real estate and land in particular has fallen in value in Ireland over the last 12 months, with prices for homes in some areas also slipping in line with the neighbouring UK.
But new homes are still being built elsewhere in Dublin, with Stormanstown House, Dublin 9, available via Lisney at off plan prices of €327,000 ($427,000) for two-bedroomed homes.
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