Pan-European real assets business – Kajima – announces the acquisition of a 3.45-acre site in Dublin as it enters the Irish Build to Rent market. Planning permission for the scheme was granted on 17 August under Ireland’s fast track ‘Strategic Housing Development’ planning route. Kajima intends to start enabling works this month (December 2021) and construction in April 2022. Completion of all construction work is expected by mid-2025.
Kajima’s plans include the delivery of 260 Build to Rent homes – a mix of 108 one bedroom, 135 two bedroom and 17 three bedroom apartments. Kajima is planning for 67% of homes to be for private rental, and 33% for social and affordable rent. Amenities include facilities such as a gym, media room, workstations, parcel drop-off, concierge and relaxation area – across over 500 sqm. The scheme is suitable for both professionals and families looking for suburban living that remains close to the city centre.
Designed by McCrossan O’Rourke Manning Architects, the scheme consists of six cores within three buildings, up to seven-storeys. These will surround two high-quality podium gardens providing green space for residents and play areas for children. The gardens sit above accessible parking including 400 bicycle parking spaces. On the ground level, trees and planting will be created to allow for homes that front directly onto a new attractive main street, which links the site to the nearby rail station.
The site is located in the northern Dublin suburb of Belmayne, which is located within the north fringe business district, around 15 mins from Dublin airport and 30 mins to Dublin central business district via public transport. The site is part of a wider local authority masterplan area with adjacent similar developments already completed.
“We’re thrilled to make our first entry into Ireland’s private residential sector, a market that excites us with strong growth potential. Belmayne will be the perfect place for families and professionals alike who are seeking high-quality homes in a well-connected Dublin suburb.
“This acquisition is a great demonstration of Kajima’s ability to fund landmark developments using its own equity, which will make us a unique player in the market. In the near future, we are looking forward to expanding our presence in the country and add further assets to our portfolio.”Dwayne McAleer, Managing Director, Kajima Ireland