Oxley emerges as preferred bidder of 2.35ha commercial site in Dublin

PROPERTY developer Oxley Holdings has emerged as the preferred bidder of a 2.35ha commercial site in Dublin, Ireland.

Should Oxley win the tender - its first venture in Ireland - it will proceed to acquire a long leasehold interest with the right to develop, manage and realise the site.

At 72-80 North Wall Quay, the site is next to the proposed new headquarters of the Central Bank of Ireland. It has the potential to accommodate in excess of 60,000 square metres of Grade A office space with capacity for up to 5,500 employees, and over 200 apartments.

"Oxley was selected as preferred bidder after the completion of a competitive tendering process that was launched in June 2014 and which involved six bidders representing Irish and international investors," said Oxley in an announcement late on Wednesday night.

It added that the proposed development is expected to make "a major contribution" to addressing the shortage of high-quality Grade A office space in Dublin's central business area.

The planning application stage of the development of the site will likely commence in early 2015. Subject to receipt of planning from Dublin City Council, Oxley said it is envisaged that the bidder will commence construction in late 2015 or early 2016.