O’Flynn Construction gets finance for €57m project in Wembley

ONE of the first “top 10” developers to go into NAMA, O’Flynn Construction, has secured finance for a €57 million scheme in Wembley, north London later this month.

The Cork-based firm is set to build a 22-storey tower — taller than its Elysian Cork city apartment block — via a joint venture with a US private equity firm, and a refinancing deal with Bank of Scotland.

Company managing director Michael O’Flynn confirmed they had overcome development funding difficulties and agreed a joint development with US-based Westbrook Partners to build a 435- bed student accommodation centre overlooking Wembley Stadium. He said, other similar investments will be “vigorously pursued”.