The only way is up. Not put off by limited room to manoeuvre…, by Linda Daly

The Sunday Times, Sunday, July 10th 2016

Not put off by limited room to manoeuvre, some developers are on an upward trajectory

What do you do when you don’t have the space to build out? You build up, of course. A new trend is emerging in the Dublin property market, with developers eager to maximise on the growing demand for residential and office accommodation building on top of existing structures.

One of the latest examples is the old National Irish Bank building at Nos 98-100 South Circular Road in Dublin 8, where developer Ronan Brady has added a fourth floor — and four luxury apartments — to the three-storey structure.

When Brady bought the redbrick 1960s building in early 2014, the ground floor was occupied by Tesco Express, on a 25-year lease, but the upper levels were vacant. He had no intention of breaking the lease and knocking the whole building down – it’s made of thick concrete. he also wanted to maintain a deal with Vodafone and Three to store their aerials on the roof. Building up was a much more viable option, and constructing luxury apartments with a view to renting them out in an area that is becoming increasingly gentrified was a no-brainer.

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The Sunday Times, Sunday, July 10th 2016