PROJECT: Ulster Bank Property Development Advice
CLIENT: Ulster Bank
Service: CSR was retained by Ulster Bank as planning advisor for the sale of its Project Clear portfolio. CSR prepared detailed planning files on 31 residential-zoned sites in the Dublin Region (including large parts of the Adamstown and Clonburris Strategic Development Zones, as well as significant sites in Counties Fingal, Dun Laoghaire Rathdown and South Dublin), Cork, Galway and Kilkenny. The files detailed the sites’ planning history, current zoning and development policy, current planning status and other factors affecting development potential and value. Based on the planning analysis the sites’ future development potential was quantified to inform Ulster Banks’s valuation of the properties in preparation for the sale. The Project Clear portfolio, totalling some 1700 acres (788 ha) with an estimated potential for development of 20,000 residential units, was sold by Ulster Bank for a sum in excess of €500 million.