Nama provides €170m to fund Boland’s Mills redevelopment

The National Asset Management Agency has made €170 million in funding available for work to begin on the redevelopment of the iconic Boland's Mills site in Dublin's docklands.

Nama is funding the demolition and enabling works phase at the newly-branded Boland’s Quay site over the next 10 months and has committed to funding all construction work, which is expected to be completed by the third quarter of 2018.

The project will have two landmark office buildings of 274,000 square feet, 41 waterfront apartments, retail and commercial space of 15,000 square feet, extensive restoration of protected structures, two new civic plazas with water frontage to Grand Canal Dock, a new pedestrian bridge, and a cultural/community space of 5,910 square feet.

‘Full steam ahead’

The plans were approved by Dublin City Council in July following receipt of a planning application in December 2014.

Mark Reynolds of Savills, who is the Nama-appointed receiver to the site, said it was now "full steam ahead" with demolition work to commence shortly.

“We are delighted with Nama’s commitment to funding its construction, as it enables us to move forward with the certainty that our plans for the site will come to fruition,” he said.

“This will be the most significant construction project this city has seen over the past 10 years and it has been supported by the SDZ [Strategic Development Zone] fast-track planning scheme introduced by Dublin City Council, which has seen us bring the project from planning stages to development in less than a year.”

The scheme was designed by Dublin architectural practice Burke Kennedy Doyle and is expected to take more than two years to complete.

Boland's Mills is located at the heart of the so-called Silicon Docks area on Barrow Street, which is home to the European headquarters of global internet search company Google.