Ballymore London plan gets go-ahead
Sunday March 13 2011
By RONALD QUINLAN
DEVELOPER Sean Mulryan's Ballymore Group received a welcome boost last week with their plans for Leamouth Peninsula, a 10-acre site at the heart of the London docklands, being granted planning permission.
Ballymore's announcement that the €520m development will now get under way this autumn will be welcomed by Nama (and by Irish taxpayers), as approximately half the net proceeds are expected to flow back to the agency in full repayment of its debt.
Upon its completion, the Leamouth Peninsula is expected to include 1,706 new homes, as well as arts, education and sports facilities.
The site is being developed as part of a joint venture with a third party.....(cont'd)