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| The former veterinary college in Ballsbridge Photo: UCD |
Glenkerrin Homes, controlled by developer Ray Grehan, has won the tender for the former UCD veterinary college in Ballsbridge, beating off competition from Jurys/Berkeley Court site bidder Sean Dunne, with a record €171.5 million bid.
The Office of Public Works (OPW), which sold the site for the Government, said the price represents "excellent value for money for the State".
The deal will see Maynooth-based Glenkerrin Homes, pay almost €84 million per acre for the 2.05 acre property. This exceeds the €57-€58 million per acre paid by Dunne for the adjoining Berkeley Court and Jurys Ballsbridge properties.
Dunne had signalled that he expected the college to achieve a price of up to €115 million.
Grehan was also linked to bids for the two Jurys sites and it's reported that he submitted the third-highest tender for the Berkeley Court.
The Minister for State at the Department of Finance, Tom Parlon, said the veterinary college property had attracted five tenders. He said the successful bid would allow for "enormous potential redevelopment on this prime city site".
The college fronts on to both Shelbourne Road and Pembroke Road, two key addresses in Ballsbridge.
The site does not come with planning permission.
