Nama chief Brendan McDonagh. Photo: Frank McGrath
Nama says it has completed a transfer of two major sites with capacity to deliver up to 4,500 homes to the Land Development Agency (LDA).
The sites are in Lissenhall, near Swords in north Co Dublin, and Celbridge, Co Kildare. Both are currently farm land.
The Lissenhall site is 212 acres with capacity for 3,000 to 3,500 new homes. It includes the proposed site for the terminus of the Metrolink rail project. The site is currently being used primarily for agricultural purposes and is zoned for residential development.
The Celbridge site is 86 acres, with capacity for 850 to 1,000 new homes. It is currently being used for agricultural purposes and is next to a site where the Department of Education intends to build three new schools.
A planning application for 344 new homes on the Celbridge site is currently in the planning system.
Nama chief Brendan McDonagh. Photo: Frank McGrath
Today’s News in 90 Seconds – October 1st
The transfer from Nama to the Land Development Agency was at the direction of the Minister for Finance.
The combined value of €68.5m for the two sites will form part of NAMA’s lifetime surplus, which is projected to be €5.05bn plus tax.
Nama chief executive, Brendan McDonagh, said the agency is looking for ways to maximise the value of sites in its portfolio and to accelerate construction of new homes.
The agency is due to be wound down by the end of this year.
“We’re delighted to be in a position to transfer these sites to the LDA so that it can continue this work, take the sites through the planning process and deliver up to c4,500 much-needed new homes in Dublin and Kildare over the coming years,” Brendan McDonagh said.