Nama provides €170m to fund Boland’s Mills redevelopment
The National Asset Management Agency has made €170 million in funding available for work to begin on the redevelopment of the iconic Boland’s Mills site in Dublin’s docklands.
Nama is funding the demolition and enabling works phase at the newly-branded Boland’s Quay site over the next 10 months and has committed to funding all construction work, which is expected to be completed by the third quarter of 2018.
The proposed development will provide 36,759 square metres (395,000 square feet) of office, residential, and retail space including cafes, restaurants and “cultural space”.
Most of the development will be for office space, but it will also include 42 two and three-bedroom apartments.
Mark Reynolds of Savills, who is the Nama-appointed receiver to the site, commented the announcement :
“This will be the most significant construction project this city has seen over the past 10 years and it has been supported by the SDZ [Strategic Development Zone] fast-track planning scheme introduced by Dublin City Council, which has seen us bring the project from planning stages to development in less than a year.”
Nama took control of Bolands Mill in 2012 after the company that owned the property, Versus Limited, collapsed into receivership.
