Property development and construction company Lioncor have sold a 176 unit apartment scheme at the Irish Glass Bottle site in Dublin 4 to approved housing body, Co-operative Housing Ireland (CHI) for €82.14m for social housing.
Today, Lioncor in partnership with Co-operative Housing Ireland (CHI) and Dublin City Council confirmed the deal for Glass House, Bottle Maker Place at the Irish Glass Bottle site, Dublin 4 and a new entry on the Residential Property Price Register confirms that the €82.14m deal went through on July 22nd.
The €82.14m price for the 176 units works out to an average cost per apartment of €466,748.
The scheme is made up of 12 studios, 43 one bed-apartments, 95 two bed apartments and 26 three bed apartments.
The Glass Bottle Development, located on Sandymount Strand, is providing social homes to households on Dublin City Council’s housing waiting list as many of the homes within CHI’s newly purchased Glass House have already been allocated by Dublin City Council via its Choice Based Lettings (CBL) system.
The delivery of the new homes at Glass House is set to become one of the major contributions to social housing output for the city in 2026.
Director of New Business & Development at Co-operative Housing Ireland, Padraic Clancy said : “The purchase of Glass House is one of our larger acquisitions and is indicative of the enhanced role Co-operative Housing Ireland is making in responding to the national housing need.
He said: “CHI own over 7,500 homes and provide housing for a further 8,500 families. Residents will not just move into a new home, they will become members of their local co-operative, whereby they will be contributing to their local community.”
The deal has been supported by Dublin City Council with funding from the Housing Finance Agency and the Department of Housing Local, Government and Heritage.
A statement from Lioncor confirming the deal states that Lioncor, Co-operative Housing Ireland and Dublin City Council “look forward to welcoming individuals, couples and families to their new homes in the coming weeks”.
Speaking today, CEO of Lioncor, Marcus Ryan commented “Glass House is set to become a new home for many families and we’re delighted to have partnered with Co-operative Housing Ireland and Dublin City Council to ensure these much needed homes have been delivered for the people of our city”.
A member of the Glass Bottle Consortium that also includes Johnny Ronan’s Ronan Group, Lioncor has also delivered an additional around 400 homes on the site with a further 323 homes due for completion in mid-September.
The Glass House development caters to all members of the community with a mix of one-bed, two bed and three bedroom A rated homes, all of which have private outside space, combined with an attractive landscaped courtyard and two landscaped roof terraces with views across Dublin bay.
Reporting by Gordon Deegan
