Dublin council has been given the green light to compulsorily acquire the site for Dublins proposed £120m Millennium Mall retail and leisure complex.
The Irish Planning Appeals Board has rejected an appeal against the CPO by the Carlton Group, a consortium of business people who own plots on the two-acre (0.81ha) site worth an estimated £13m.
The CPO for the OConnell Street site was initiated by the city council in 2001, two years after the consortium received planning permission for the scheme.
The council and the Irish government had identified the site as playing a key role in rejuvenating the north inner city as it would link that area and Henry Street, Dublins prime shopping area.
Developers Multi Development Corporation and OCallaghan Properties are favourites to make offers for the site. Both have been involved in discussions with the Carlton Group.
An arbitration process is to be initiated to decide the price which the council should pay to the Carlton members.
However, the consortium is expected to appeal the decision to the Irish High Court.
The Carlton Group comprises developers Richard Quirke, Paul Clinton, Jim McGettigan and retailer Colm Carroll.
However, McGettigans site, on which he planned to build a hotel, has been excluded from the CPO.
The scheme would see the redevelopment of the north west section of Dublin’s principal street as 750,000 sq ft (69,700 sq m) of retail and leisure space.
EGi News 21/03/01
