Bartra, the property and infrastructural development company established by Richard Barrett, is considering its options for the development of the Bradys Castleknock Inn site on the Old Navan Road, Dublin 15.
The developer bought the 0.783 acre property for around €3.3m, or about €450,000 over the €2.85m quoted by estate agents Finnegan Menton, who described it as a “ready to go” prospect as it has planning permission for 36 two- and three-bedroom apartments and penthouses.
From Bartra’s perspective, one of the attractions of the site is believed to be its proximity to the James Connolly Memorial Hospital Blanchardstown, as this is one of the reasons why it would qualify for a co-living development.
The Bradys site is one of four which Bartra has considered for co-living. Bartra’s portfolio also includes commercial and leisure properties, as well as other types of residential assets.
The four Bartra sites earmarked for what is also described as shared living accommodation could provide as many as 738 bed spaces and they also include sites in Rathmines, Dublin 6, Cookstown, Dublin 24 and Eblana Avenue in Dun Laoghaire.
Developers will only get permission for co-living projects on sites which are in either core urban locations, in the city centre, in large urban conurbations or close to hospitals. The Cookstown site is near Tallaght Hospital and Bartra has signalled plans for 222 shared-living bedrooms in that development, which will also include 150 build-to-rent units.
It also plans 208 shared living units on a 2,600 sq m site on Eblana Avenue, which is near St Michael’s Hospital, Dun Laoghaire.
It had planned around 100 bed spaces at Maxwell Road, Rathmines, but is currently re-working those plans.
At a recent seminar in the RDS, Hazel Jones, strategic planning director, Bartra Capital Properties, explained that shared living is best suited to single people seeking accommodation for up to 12 months.
These would include people who may be relocating to a city on a temporary basis where they know nobody and by joining membership of a residential co-living club and sharing facilities can quickly get into a social environment that gives them a better quality of life.
While Government legislation allows room sizes of as little as 12 sq m for this type of property, Bartra designs its rooms to at least 16 sq m.
REF: Irish Independent