Ten storey apartment block planned for Douglas

The development includes three apartment blocks and four retail units on the site of the former Permanent TSB bank in the heart of Douglas

An aerial view of Douglas Village. Picture: Denis Scannell

A major apartment scheme is earmarked for Douglas Village under plans lodged with Cork City Council.

Sirio Investment Management Ltd has applied for permission to build three apartment blocks of some 65 apartments, ranging from six to 10 storeys in height, as well as four retail commercial units.

The development is set for the site of the former Permanent TSB, at the very heart of the village, on East Douglas Street and Main Street. The bank relocated to a corner unit by Circle K gas station some years ago.

Forty five of the apartments will be “Build to Rent”. A residents’ gym and meeting room are also part of the proposal.

The apartments will be spread across three blocks, with 20 apartments in a four to six storey block, 15 apartments in a six storey block and 30 apartments in an eight to 10 storey block.

There are also plans to upgrade the public realm and footpaths at East Douglas Street, as well as creating new vehicular access to basement car-parking from the Aldi car park. The basement carpark will have 18 car spaces and bicycle parking.

The site in question was once set for UK pub chain Wetherspoons who had planned to open a new bar there. However, while they opened in the city centre, they pulled out of the Douglas site as they could not obtain the necessary planning and licensing.

The Shipton Group, behind both Douglas shopping centres, had also looked at the redevelopment of the bank site at one stage, but were badly affected by the property crash.

Sirio Investment Management Ltd has an address in Naas, Co Kildare. Its directors are listed as John O’Regan, with an address in Rathduff, Grenagh, Co Cork, and Ciara O’Regan, with an address at Monalahy, Newcastle, Blarney.

Separately, nearby East Douglas Village, an entire street of mixed-use development, was sold recently to private buyer for a sum thought to be in the region of €11m.