AIB joins objectors to Johnny Ronan’s €200m Dublin 4 development

Allied Irish Banks is one of a number of objectors against property developer Johnny Ronan’s plans for a €200 million office block in Dublin 4.

In January, Mr Ronan continued his comeback to his Irish property scene after lodging plans for an office block development that will be six storeys high over three basement levels.

Mr Ronan acquired the site last year containing four vacant office blocks and surrounding land close to AIB’s Bankcentre building, opposite the RDS grounds, on Merrion Road, for €67.5m.

The near four-acre site was sold by a receiver on behalf of Nama and Ulster Bank.

It had been acquired in 2006 by Carlow property developer Sean Dunne for a reported €200m.

The promoters of the plan say the developed campus will have the capacity to accommodate 2,200 workers.

The plan — called Project Pegasus — will be 52,247 sq m.— more than five times the 9,789 sq m in gross floor area of the existing four office blocks that are set to be demolished.

However, the new plan lodged with Dublin City Council, faces opposition from AIB after the bank retained planning consultants RPS to highlight its “serious concerns” over the nature and extent of the proposal.

RPS says the adjacent AIB Bank Centre contains “a nationally important cash management facility”, saying it is is concerned about security if the plan by Mr Ronan goes ahead.

It says if a planned terrace were “to be accessible to the public or future office staff members, the resulting overlooking of the existing AIB offices in Blocks E & F would be significant and could jeopardise the security of the Bankcentre’s activities”.

“Given the sensitive nature of AIB’s banking facilities and the need to ensure the security of the Bankcentre premises, we wish to object to the proximity of the proposed development,” it says.

AIB is one of over 20 objectors, including An Taisce. The Churchill Residents Group is objecting on the grounds of the size of the development.

Planning consultants for Mr Ronan say the plan is “modest in scale”.

Dublin City Council may rule on the plan next month, but it may request more information.