Marlet – Ireland’s largest independently owned property development company – has finalised a second financing deal with Allied Irish Banks plc (AIB) to the value of €65m. The financing is for One Lime Street, a new Build to Rent development consisting of 216 apartments in Dublin’s south docklands.
The deal comes just two months after Marlet secured funding with AIB for the Walled Orchard Garden Build to Rent scheme in Dundrum.
“We are delighted that AIB has supported us again in a demonstration of confidence in our approach to development. We are pleased to be able to commence on delivering these badly needed, quality homes in one of the last available sites in the ‘Silicon Docks’ area of Dublin’s city centre”Pat Crean, CEO, Marlet
One Lime Street will feature 216 one- and two-bedroom apartments over six floors. Amenity spaces include multi-purpose rooms, gym, lounge and many landscaped outdoor communal areas including a first-floor roof terrace. On the street and basement levels, 2,500 sq ft of retail space will be available for a café and shops, as well as secured bike and car parking spaces.
“AIB is committed to playing a vital role in home building in Ireland. The funding of the delivery of high-quality, sustainable homes is strategically important to AIB and as such myself, Brian Motherway and the wider Development Finance team are delighted to support Marlet in the development of One Lime Street”Derek O’Shea, Head of Development Finance, AIB