Menolly Homes' planning victory last week when it got the thumbs up from An Bord Pleanála for a 552-unit residential scheme on the grounds of the listed Dunboyne Castle is expected to net the developer over €170 million in house sales.
The scheme got planning permission despite local controversy and a recommendation by the planning board's inspector to refuse planning permission.
Sherry FitzGerald New Homes, which will handle sales at Dunboyne, say the scheme will mark a return to a more traditional-type of lower density development that has become almost extinct in urban areas. As well as apartments and townhouses, it will feature detached and semi-detached houses with substantial front and back gardens.
The residential element will be situated on a 47-acre portion of the grounds and will comprise 344 houses and 208 apartments in 10 blocks. Menolly originally sought to build 220 apartments but were told to omit one block to provide more open space.
According to Sherry FitzGerald New Homes, the bulk of the homes will be aimed at first-time buyers, with the remaining detached houses targeted at the "trading up" market.
Menolly also got permission to turn the listed Dunboyne Castle into a 121-bed five-star hotel for which it is in negotiations with the Fitzpatrick Group to operate. The hotel is due for completion for the Ryder Cup in 2006. It will involve the removal of a two-storey east wing and single storey west wing extensions and the addition of a 121-bed extension and the restoration of the original building.
The two-storey stable building will be renovated and converted into 10 apartments and the hotel will have conference and business meeting facilities, banqueting hall and leisure centre.
Menolly bought the castle from the Keating family nearly four years ago for €28 million. Twenty-three acres are being given over to community recreation and education use, including the provision of two pitches to the GAA and four acres to the local athletic club.
Dunboyne Combined Residents Association (DCRA) has been opposed to the scheme and is concerned it is not based on local housing need, and could lead to a deterioration in the quality of life in Dunboyne.
