Sean Dunne:AIB deal: Can anyone see him getting out of this without losing his shirt?

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It will be a multi million euro losing deal if he can only get permission for 8 stories. However from the papers it appears there are alot of different investors exposed to this deal. I doubt permission will be granted for a 32 story building.
I could see a few developments go pear shaped in 2007/2008. Big money has been paid for sites and expensive apartments and houses are the ones that have fell the most in the last three months.
 
Plans scrapped for 32-storey tower in Dublin
15/05/2007 - 09:23:49
Hopes for a 32-storey skyscraper with over 600 apartments for Dublin city have been dashed.

Property tycoon Sean Dunne was hoping to build the development on the site of Jury's Hotel in Ballsbridge.

http://www.breakingnews.ie/ireland/?jp=MHKFAUGBGBSN

But last night Dublin City Council withdrew the plan and instead opted for another plan limiting tall buildings in the area to eight storeys.
 
I thought I read at the time that he bought the land contingent on it having prior agreement to develop 20+ floors? Surely he wouldn't have stuck such a fortune intot he plan without there being some sort of guarantee, or am I totally brain damaged at this point?
 
Maybe he might put a traveller halting site in the area to spite the planners if he doesnt get his way !;) REMEMBER HEARING OF A SIMILAR SITUATION ON THE SUTTON CASTLE SITE ,ALL OBJECTIONS WERE DROPPED OVERNIGHT WHEN AN ASYLUM SEEKERS ACOMMODATION APLICATION WAS PURSUED AFTER BEING REFUSED PERMISSION !
 
Think that's the whole point of the residents objections, it would seem that Dublin City Co. by coming up with a draft local area plan for Ballsbridge without mentioning rezoning anywhere are thereby facilitating all the developers who bought huge sites in the area, think of the development levys they'd make! The South East Area Councillors voted to reject the local area plan and the rezoning and instead stick with the current Dublin Development Plan. Dublin City Council put the draft local area plan out for public consultation at beginning of February but only put the notice out for rezoning at end of April, seemingly you'd need the rezoning before the local area plan.
 
Should also have mentioned that it's not just Jurys and Berkeley Court sites that would be looking for development by Sean Dunne, he also owns the AIB old HQ, the green space opposite RDS plus four of the old AIB buildings behind this green space, don't know who owns vet college but that's also a huge site.
 
Re: Sean Dunne:AIB deal: Can anyone see him getting out of this without losing his sh

yddaphslaw said:
I was listening to Sean Dunne being interviewed by Marian Finucane on Sat. last Mar 16th 2008. I have to admire this guy.
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I suppose it's hard not to admire someone who is so "spectacularly unsuccessful". He exhibits at least 5 of the 7 mentioned habits here (links to pdf):
[broken link removed]
 
Re: Sean Dunne:AIB deal: Can anyone see him getting out of this without losing his sh

Afuera said:
I suppose it's hard not to admire someone who is so "spectacularly unsuccessful". He exhibits at least 5 of the 7 mentioned habits here (links to pdf):
[broken link removed]
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Which 2 do you reckon he doesn't exhibit?
 
Re: Sean Dunne:AIB deal: Can anyone see him getting out of this without losing his sh

why do people always have to knock people? who cares what kind of person Sean Dunne is, let him get on with it and wish him all the best, i'd love to have his kind of money to through at a project like that.

and remember poor planning and the lack of tall buildings has forced people to park their cars for a couple of hours everyday on the embrassing M50 we should have has sky scrapers years ago.
 
Re: Sean Dunne:AIB deal: Can anyone see him getting out of this without losing his sh

There was an article on him in one of the weekend papers a few weeks ago (Irish Times or SBP or Sunday Times), which said he was one of the better placed developers financially speaking. He sold a number of properties (and a shopping centre) at or near the peak to amass a 'war chest' of €300m plus. He has also said he could afford to develop what he currently has permission for in Ballsbridge, leave the remaining site (without permission) empty and break even or close to it.
 
Re: Sean Dunne:AIB deal: Can anyone see him getting out of this without losing his sh

tallpaul04 said:
why do people always have to knock people? who cares what kind of person Sean Dunne is, let him get on with it and wish him all the best, i'd love to have his kind of money to through at a project like that.
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Not looking to knock him. Merely posted the link to that article as it may provide an insight into how Sean Dunne has found himself in the situation he currently is in. When I first read the article on being "spectacularly unsuccessful" (i.e. a highly public failure), he was the first person that popped into my head, but if you don't see the correlation then fair enough.

tallpaul04 said:
and remember poor planning and the lack of tall buildings has forced people to park their cars for a couple of hours everyday on the embrassing M50 we should have has sky scrapers years ago.
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I agree poor planning is a big problem in Dublin and higher density building should be welcomed. However, there are probably much better places to locate this higher density housing. Many other locations, close to the city centre, are really crying out for regeneration while the locals in Ballsbridge seem to be pretty happy with the status quo there.
 
Re: Sean Dunne:AIB deal: Can anyone see him getting out of this without losing his sh

"I agree poor planning is a big problem in Dublin and higher density building should be welcomed. However, there are probably much better places to locate this higher density housing. Many other locations, close to the city centre, are really crying out for regeneration while the locals in Ballsbridge seem to be pretty happy with the status quo there. "

I agree with this , Dunne isn't really interested in high density living, all he was interested in was generating as much income as possible from a desirable address, the higher the buildings the more money it generates, it is another example of developer lead development rather than proper planning, why dont dublin city council bring out a pla for dublins development for the next 20 years, detailing the population they expect within dublin city and where that population should be located, undoubtedly if they had a serious plan, then some low density areas would have to be demolished to make way for this high density, but that would be too radical for politicians
 
Re: Sean Dunne:AIB deal: Can anyone see him getting out of this without losing his sh

Afuera said:
Many other locations, close to the city centre, are really crying out for regeneration while the locals in Ballsbridge seem to be pretty happy with the status quo there.
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But are there builders chomping at the bit to develop in these areas with no government subsidy? Most of these regeneration plans seem to be designed to enrich developers enormously at the expense of the taxpayer but for dubious longterm benefit.

I say let Dunne's plan go ahead and it will serve as a model for other high rise developments in the city's less salubrious areas, possibly severing the linking of poverty and high density living in the Irish mindset for once and for all.
 
Re: Sean Dunne:AIB deal: Can anyone see him getting out of this without losing his sh

he only has a lend of the shirt on his back,he keeps his own shirt safe and sound,offshore.
 
Re: Sean Dunne:AIB deal: Can anyone see him getting out of this without losing his sh

room305 said:
But are there builders chomping at the bit to develop in these areas with no government subsidy? Most of these regeneration plans seem to be designed to enrich developers enormously at the expense of the taxpayer but for dubious longterm benefit.

I say let Dunne's plan go ahead and it will serve as a model for other high rise developments in the city's less salubrious areas, possibly severing the linking of poverty and high density living in the Irish mindset for once and for all.
Click to expand...

yes thats actually a very good point, if dunnes project were allowed go ahead it could revolutionise the development of dublin and the rest of the country for that matter away from suburban sprawl
 
Re: Sean Dunne:AIB deal: Can anyone see him getting out of this without losing his sh

[broken link removed] sounds like a potentially similar situation.
Irish Life's High Court case yesterday against Galway developer John Lally could signal a bad patch ahead for many developers. The rumour mill has been working overtime for months because of the heavy borrowings of by a range of developers, and the sudden cut off of finance by banks already heavily exposed on property.
Click to expand...
 
Re: Sean Dunne:AIB deal: Can anyone see him getting out of this without losing his sh

That's a really interesting article. Well worth reading.
 
Re: Sean Dunne:AIB deal: Can anyone see him getting out of this without losing his sh

Is Sean Dunne a giant or is his wife a dwarf or something?

 
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