Developer offers long-term leasing deal at Poolbeg despite preference for direct purchase

Johnny Ronan and Oaktree Capital bought an 80 per cent stake in the lands for approximately €200 million in 2020

The council had previously told the developer in an email on June 4 that its ‘preferred option’ is to buy units on the site, which has capacity to deliver 3,800 homes. Picture: Getty

A consortium of developers has offered long-term leasing deals as part of its obligation to deliver social housing at one of the country’s largest sites, despite a preference by Dublin City Council to purchase the units directly.

Documents seen by the Business Post show that Lioncor, one-third of a consortium heading up the redevelopment of the Irish Glass Bottle [IGB] site in Dublin 4, has offered the local authority lengthy leasing deals for 62 units ...