Iarnrod Eireann to develop air rights over Connolly?

Mark Hennessy · 06-07-2006, 08:08

Quote:

IARNROD Eireann is planning a major expansion of Dublin's Connolly Station by building apartments and offices above the rail tracks.

The semi-state company is hoping to develop the 'air rights' above the station - that is, build additional floors above the existing buildings - and have asked consultants to tender a masterplan for the site.

The company is hoping to maximise the potential of its prime city centre location beside the IFSC - it previously outlined plans for similar redevelopment at nearby Tara Street.

The plan will focus on four parts of the Connolly Station site and will explore the possibility of redeveloping the existing car park.

It will also look at the air rights above the tracks at the north end and see if offices and homes could be built above the Luas terminus.

"It's to look at the options for commercial and residential development," a company spokesman said.

Paul Melia

Personally, I think that it is a great idea.
Anyone know whatever happened to the plan to build over Tara St.?

Colm Donoghue · 06-07-2006, 08:41

tara st has gone back out to tender to see how to keep trains running while construction is underway.

CIE the property development company hard at it again....

Mark Gleeson · 06-07-2006, 08:51

Point to note here is this has nothing to do with Iarnrod Eireann, CIE own all the property and the revenues from the property section are not given to IE to fund operations

Based on numbers I have seen if CIE developed all the sites they are talking about it would equate to close to €100 million pa

Despite comments by some uninformed commentators CIE are €40 million up on Spencer Dock compared to the other options they had for the site like selling it

PaulM · 06-07-2006, 09:04

Great to see they are focussing on property development and not public transport. With any luck the public will not see any of this money and it will all go into the pension funds.

colmoc · 06-07-2006, 09:51

Generally do CIE develop this land and rent or do they sell to developers to do as they please??

ACustomer · 06-07-2006, 10:43

If, as Mark Gleeson states, there is indeed an annual return to the CIE group of €100m on property development, then this is likely to lead to an equal reduction in the Exchequer subvention to CIE. I say this because this is the way the Department of Finance always thinks and acts. God knows where the "saved" €100m will go: more money for the NRA, even more money for medical consultants, another pile of electronic voting machines. Forgive me for being cynical.....

Mark Gleeson · 06-07-2006, 11:57

If they developed everything currently on the table they could make a lot of cash problem is there is no transparency in how this is done

Note Irish Rails accounts value total property at a little over 1 million, the CIE accounts don't value the land correctly they under value it

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06-07-2006, 08:41	#2
Colm Donoghue Really Regular Poster Join Date: Dec 2005 Posts: 873	tara st has gone back out to tender to see how to keep trains running while construction is underway. CIE the property development company hard at it again....

06-07-2006, 08:51	#3
Mark Gleeson Technical Officer Join Date: Dec 2005 Location: Coach C, Seat 33 Posts: 12,669	Point to note here is this has nothing to do with Iarnrod Eireann, CIE own all the property and the revenues from the property section are not given to IE to fund operations Based on numbers I have seen if CIE developed all the sites they are talking about it would equate to close to €100 million pa Despite comments by some uninformed commentators CIE are €40 million up on Spencer Dock compared to the other options they had for the site like selling it

06-07-2006, 09:04	#4
PaulM Really Regular Poster Join Date: Dec 2005 Posts: 826	Great to see they are focussing on property development and not public transport. With any luck the public will not see any of this money and it will all go into the pension funds.

06-07-2006, 09:51	#5
colmoc Member Join Date: Jan 2006 Posts: 140	Generally do CIE develop this land and rent or do they sell to developers to do as they please??

06-07-2006, 10:43	#6
ACustomer Really Regular Poster Join Date: Jan 2006 Posts: 767	If, as Mark Gleeson states, there is indeed an annual return to the CIE group of €100m on property development, then this is likely to lead to an equal reduction in the Exchequer subvention to CIE. I say this because this is the way the Department of Finance always thinks and acts. God knows where the "saved" €100m will go: more money for the NRA, even more money for medical consultants, another pile of electronic voting machines. Forgive me for being cynical.....

06-07-2006, 11:57	#7
Mark Gleeson Technical Officer Join Date: Dec 2005 Location: Coach C, Seat 33 Posts: 12,669	If they developed everything currently on the table they could make a lot of cash problem is there is no transparency in how this is done Note Irish Rails accounts value total property at a little over 1 million, the CIE accounts don't value the land correctly they under value it