April 29, 2019
Developer Paddy McKillen jnr’s Oakmount and partners Core Capital have paid around €10 million to acquire a key waterfront site in the Dublin docklands from Arthur Molloy and Michael Sherry, of Molloy & Sherry Logistics.
The sale of the site known as No 73 North Wall Quay comes just three months on from Dublin City Council’s decision to grant planning permission to the property’s previous owners for a 3,700sq m (39,825sq ft) development on the site.
While the permitted scheme will be office-led with 2,154sq m (23,185sq ft) of lettable space distributed over eight floors, it also includes two units at ground floor level suitable for retail or cafe use.
Oakmount’s efforts to secure a tenant for the new block should be enhanced by the strength of its location.