Construction BUSINESS

The Land Development Agency has issued a Pre-Qualification Questionnaire for a key strategic development located in County Dublin as Minister for Finance Michael McGrath designates agency to NewERA.

The Hacketstown lands are a key strategic development located in Skerries, County Dublin, Ireland.

The development consists of a total of 345 residential units consisting of a mix of houses, duplex units, apartments and a creche, ranging in height from 2 to 4 storeys. The development also includes surface and undercroft car parking, provision of site services and infrastructure works including hard and soft landscaping, public open space, and internal link road.

Delivery of the scheme will be phased with 176 no. units (including Creche) in Phase 1, and the remainder of the scheme in Phase 2.

The LDA are now seeking to carry out a procurement competition for the design, construction and delivery of Phase 1 of the development, commencing post grant of planning and running through to delivery of the various tenures (affordable sale, cost rental and social) to the respective purchasers / end users.

It is envisaged that the Development Partner will be responsible for funding and delivery of the social units and affordable for sale units. The LDA will provide interim payments as delivery of the cost rental units advances. Responses are due by 27th February.

The LDA, established in September 2018, is a Government land management initiative, with a key focus on State-owned land. The LDA opens up State-owned land to improve housing options for individuals and families.

Meanwhile, The Minister for Finance, Michael McGrath TD, has signed the relevant Statutory Instrument under Section 18(3) of the National Treasury Management Agency (Amendment) Act 2014 to provide that the LDA is a designated body in respect of whom the New Economy and Recovery Authority (NewERA) can provide certain financial and commercial advisory services to relevant Ministers.

McGrath said: “I am delighted to have processed the designation of the Land Development Agency(LDA) to NewERA. NewERA provides vital financial and commercial advice service to Ministers and Departments in relation to the commercial State sector companies under its portfolio and brings a detailed and comparative knowledge across various sectors. In the first instance NewERA’s advice will be of great assistance to my colleague the Minister for Housing but ultimately it will benefit other Ministers with responsibilities in relation to the LDA.”

The National Treasury Management Agency (Amendment) Act 2014 (NTMA Act) established the NTMA’s NewERA functions on a statutory basis, to, inter alia, provide financial and commercial advisory services to relevant Ministers on the exercise of their ownership functions in certain designated commercial State sector companies. In this way, NewERA provides a vital service to the Ministerial shareholders in relation to these companies and brings a comparative knowledge across various sectors while providing an extra degree of qualitative analysis to projects and proposals.

Post designation, NewERA will be able to provide certain commercial and financial advice to Ministers on relevant financial and commercial matters relating to the LDA, but in line with the NTMA Act the Ministers can take any other advice or considerations into account that he/she wishes.

NewERA currently provides financial and commercial advice on specified matters to the Minister for Housing, Local Government and Heritage in respect of LDA by agreement. NewERA’s role in providing commercial and financial advice to relevant Ministers/Departments on a broad range of commercial State sector companies and assignments (including for example providing advice in relation to board appointments and remuneration of Chief Executive Officers of designated bodies) means it can apply a broad perspective and expertise in the advice it provides in respect of LDA, facilitating the State in taking a portfolio perspective in respect of the assets within its ownership.