QUINTAIN TO INVEST €500M TO CREATE THE HEART OF ADAMSTOWN
QUINTAIN TO INVEST €500M TO CREATE THE HEART OF ADAMSTOWN
Tesco signs lease for 40,000 sq ft store with second major retailer to follow
First phase will develop 279 apartments and 91,000 sq ft retail space to shop and socialise
Centrepiece of ‘The Crossings’ will be a 2-acre village green
Quintain has commenced construction of the first phase of its new €500m urban village development in Adamstown, Dublin. The first phase includes 279 apartments and over 91,000 sq ft/8,500sqm of space to house two major supermarkets, 20 retail units and five restaurant outlets, along with a multi storey car park.
The development, which will be called The Crossings, will greatly enhance the range of amenities available to current and future residents of Adamstown. With 3,000 homes already completed in Adamstown, and over 5,000 new homes expected over the next five years, this development delivers a focal point for the community to live, work and play.
Tesco has signed a lease for a 40,000 sq ft/3,700sqm store, which is set to open in January 2023, with a second leading supermarket anchor store set to open at the same time. Bannon have been retained as agents for the leasing of the retail units, which will serve an estimated potential shopping population of over 100,000 people drawn from residents in Adamstown, and the neighbouring suburbs of Lucan, Celbridge and Leixlip.
Construction has commenced on the 279-unit apartment complex adjacent to the retail facilities, which will be completed by mid-2023. Planning permission for a second phase of 185 apartments has been granted and further phases are planned for submission in late 2021 and early 2022.
A 2-acre village green will provide a centre piece for the area as place to unwind and dine, with areas designed to bring people together at community event, artisan markets and family fun days.
This phase of development marks the latest stage of progress in Quintain’s plans to create a vibrant community in Adamstown, where to date Quintain and its affiliates have built 1,000 homes, with over 85% occupied by first time buyers. In addition to the apartments at The Crossings, Quintain has a further 800 homes under construction or due to commence this year.
Adamstown has benefited from significant infrastructural investment in recent years including a strategic road network and public amenities. In June, Quintain completed and transferred ownership to South Dublin County Council of Tandy’s Lane Park, providing local residents with easy access to green open space. Another 27-acre green open space – Airlie Park – is set to open by the end of the year and will include a cricket pitch and Astroturf pitches.
Michael Hynes, Joint Managing Partner, Quintain Ireland, said:
“We look forward to welcoming Tesco as one of the anchor tenants at The Crossings, which will bring new homes and retail development just a minute’s walk from Adamstown station. This investment will contribute to the social fabric of the area,and is supported by the handover of Tandy’s Lane Park to South Dublin County Council. We are very confident in the strong level of demand there is to live in the area, which will be boosted by the new amenities we are delivering.”
Eddie Byrne, Joint Managing Partner, Quintain Ireland, said:
“We are investing half a billion euros in the very heart of Adamstown over the next 5 years. With this first phase we will deliver a major boost to local residents where they can shop and socialise just minutes from their front door. It will provide Adamstown with a beating heart for social activity, and a focal point for community engagement. With this progress, and the wider development of more homes, schools and green open spaces for Adamstown, the area will become one of the most desirables destinations in west Dublin.
Quintain owns 220 acres in the Adamstown/Lucan area, where it plans to develop over 4,000 new homes and 250,000 sq.ft. of commercial space. The company’s broader land portfolio covers 460 acres of prime assets in Ireland at Adamstown, Clonburris, Portmarnock, and Cherrywood.
Quintain Ireland’s parent company Quintain Limited is a vertically integrated developer, operator and owner of residential and mixed-use assets; best known for the ongoing transformation of Wembley Park in north London.
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Denise Maguire Editor of Irish Construction Industry Magazine & Plan Magazine
