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Friday 2 December 2016

Boom-time builders Durkan and Kelland aim to construct 200 houses

Bill Durkan of Durkan Estates
Bill Durkan of Durkan Estates

Two of Ireland's largest boom-time developers are aiming to build more than 200 homes in south Dublin as part of a multi-million euro development.

Durkan Estates, the residential development arm of UK-focused construction firm Durkan Group, and Kelland Homes, the Irish housebuilder founded by the late Paddy Kelly, have submitted a joint planning application to South Dublin County Council for permission to build 218 homes.

The homes would be three and four-bedroom two-storey buildings in Saggart. The development would also include a creche.

Kelland Homes was one of Dublin's largest housebuilders over the past 40 years before the economic crash. It built thousands of houses over the years, mainly in Clondalkin, Tallaght and Rathfarnham.

Affordable

The business made Mr Kelly a multi-millionaire during the boom years. Even after the downturn Mr Kelly made it onto the UK property Rich List.

In 2010 Estates Gazette, the UK property magazine, estimated his net worth to be £90m.

Durkan Group was reportedly the first major developer to pay off its Nama loans. In 2012 it reportedly decided to pay off about €40m in Nama bank loans, which were said to be performing well, rather than deal with the state agency.

The company, which was founded by Bill Durkan in 1963, became one of the largest builders of affordable housing in the south-east of England and built hundreds of houses around Dublin before the crash.

The joint application states that the proposed development would consist of two adjoining sites.

Kelland Homes would build 111 homes on one side of the site, while Durkan Estates would build 107 on the other. It is understood that the cost of development would likely run into tens of millions of euro.

A spokesman for Durkan New Homes said the development did not mark the beginning of a wider partnership between the two companies.

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