Council gives ‘lift-off' to plan for aviation tycoon's ‘super-home' on Shrewsbury Road in Dublin 4
It comes after city council planners concluded that the proposal is 'acceptable' and in keeping with the policies of the Dublin City Development Plan.
In early February of this year, Ms O'Malley lodged plans for the partial demolition and alteration of No 5 and No 7 Shrewsbury Road, in order to amalgamate the two semi-detached properties purchased for a combined €11.55m by herself and her husband, who is the CEO of aircraft leasing giant AerCap.
The combined homes will result in a 1,344 sq m home – 12 times the size of an average three-bed semi-detached 111 sq m home.
The revamped home will include a bar – sandwiched between a lounge area and library – at ground level.
The planning application by Ms O'Malley the couple's purchase of No 5 Shrewsbury Road in Dublin 4 for €6.75m last November.
The property lies next door to the couple's existing family home at No 7 Shrewsbury Road, which the couple purchased for €4.8m in 2015.
No objections were lodged against the plan.
A council planner's report stated that 'the proposed design and materials to be used in the development is considered to be of high quality and would be in keeping with the character of the area'.
The report stated that 'the development, while large, has a large site which could accommodate such a structure, and would not be dissimilar to other large residential units on Shrewsbury Road'.
The proposed development will provide for a five-bedroom, three-storey dwelling, over an existing basement, with a one-bedroom apartment at the first-floor level with a private entrance doorway.
In a 39-page planning report lodged with the application, planning consultant Kevin Hughes contended that the proposed development 'will not result in an overdevelopment of the application site'.
ADVERTISEMENT
'In fact, when the site coverage and plot ratio of the proposed development are compared to other dwellings on Shrewsbury Road, it is clear that it will be similar.'
Mr Hughes stated that 'the proposal is similar in design, scale and massing to what currently exists on Shrewsbury Road, and would enhance the visual amenity of the streetscape sensitively'.
He stated that the rationale for the scheme 'is based on the energy performance, standard of accommodation and by association the cost of refurbishing the houses to higher energy rating'.
The consultant further stated that 'the applicant is extremely concerned about the energy efficiency of the two existing dwellings, especially No. 5 Shrewsbury Road, constructed circa 1925, and the long-term cost associated with sustaining a comfortable standard of accommodation'.
Mr Hughes said that the proposed development 'would deliver a high-quality residential development at an appropriate residential density, in close proximity to local retail services, facilities and a public transport corridor'.
He also stated that it would not detract from the visual or residential amenities of the area, it would deliver a satisfactory level of private open space to the existing residents of the development, and it will complement the built character of the area.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
RTÉ News
4 hours ago
- RTÉ News
AerCap can recover over $1 billion, UK court rules in case over jets 'lost' in Russia
The world's largest aircraft lessor AerCap can recover over $1 billion in relation to jets stuck in Russia since the invasion of Ukraine, London's High Court ruled today, though that is less than the roughly $2 billion it sought. The court ruled broadly in favour of leasing companies in a multi-billion-dollar legal dispute with insurers, following a mammoth trial of one of the biggest insurance disputes ever heard in London which concluded in February. The lawsuit had focused on almost 150 jets and some engines, previously with a total value of up to $4.7 billion, though settlements - including on the first day of the trial in October - have whittled the numbers down. Judge Christopher Butcher said in a summary of his ruling that the aircraft were lost and "that loss occurred on 10 March 2022, when a piece of Russian legislation banned the export of aircraft and aircraft equipment from Russia". That meant the lessors could recover from their "war risks insurers", rather than under a broader all risks clause, as the cause of the loss was "an act or order of the Russian government", Butcher said. The judge also ruled that insurers were not prevented by EU or US sanctions from indemnifying the claimants for the loss of aircraft which had been leased to Russian airlines. AerCap's law firm Herbert Smith Freehills Kramer said the judgment secured $1.035 billion for AerCap, "in addition to substantial recoveries achieved in prior settlements". The $1.035 billion sum is, however, less than AerCap's claimed losses of over $2 billion had it been able to recover under its all risks policy. Butcher said in his ruling that Dublin-based AerCap had received just over $1.3 billion from six settlements between August and December 2023 with lessees and a Russian insurance company. AerCap, Dubai Aerospace Enterprise (DAE), Merx Aviation, KDAC Aviation Finance, Falcon and Genesis had led the claims against a string of insurers, including AIG, Lloyd's, Chubb and Swiss Re. KDAC settled all its claims during the trial, Butcher said in his ruling, while AerCap, DAE and other lessors have periodically disclosed partial settlements.
Irish Times
7 hours ago
- Irish Times
Aercap wins €875m award against insurers for Russian losses
Irish aviation leasing giant AerCap has been awarded almost €875 million by a UK court over the loss of aircraft following Russia 's invasion of Ukraine in 2022. AerCap has been suing insurers for refusing to pay out under policies following the invasion, which resulted in several Irish businesses losing aircraft leased to Russian airlines. The group confirmed that, in a judgment on Wednesday, a commercial court in London ruled that its subsidiary, AerCap Ireland Ltd, was entitled to recover $1 billion (€872.6 mullion) from insurers. 'This award is in respect of the aircraft and engines which AerCap and its affiliates leased to Russian airlines and were not recovered from Russia following its invasion of Ukraine in February 2022,' said a statement. READ MORE Wednesday's ruling brings to $2.5 billion the total that AerCap has recovered from insurers under policies covering aircraft leased to Russia. In 2022, it valued the losses at $2.7 billion, which covered the write-off of assets stranded in Russia and Ukraine, and impairments to those recovered from both countries at the time. Since then it has recovered $1.3 billion in 2023 and $195 million last year. In 2022, the company said that it had filed claims for $3.5 billion with its insurers for Russian losses. AerCap is still pursuing claims for some aircraft and engines lost as a consequence of the conflict in the commercial court in London. The company pledged to continue vigorously pursuing the claims. 'However, the collection, timing and amount of any potential further recoveries of those claims are uncertain,' it cautioned. The London court said the Irish company was entitled to Wednesday's award under the 'war and perils' section of part of its insurance coverage. Insurers must pay the sum due by July 2nd this year. A hearing in September will deal with any questions of interests and costs, the company noted. Dublin-based AerCap buys aircraft and engines from manufacturers, including Boeing and Airbus, and leases them to airlines around the world. The company ended aircraft and engine leases with Russian airlines in February 2022 to comply with sanctions imposed by the EU as a response to the invasion. It was unable to recover 113 planes and 11 engines at the time, but did take back 22 planes and three engines. Insurers contested claims filed by AerCap and other lessors, including Irish rivals and fellow industry leaders, SMBC Aviation Capital and Avolon, following the Ukraine war's outbreak three years ago. The claims sparked several lawsuits, including in the Irish courts, when insurers refused to pay out on various grounds. However, lessors have been recovering losses over the last two years through settlements and rulings such as the one handed down in London on Wednesday. SMBC recently confirmed two settlements totalling $654 million, bringing to $1,41 billion the total that has recovered from insurers. That group originally estimated its losses at $1.61 billion.
Irish Independent
8 hours ago
- Irish Independent
Dublin-based aircraft lessor AerCap secures $1bn in UK judgment
Lessor sued insurers after Russia seized jets following Ukraine invasion Dublin-headquartered aircraft lessor AerCap has secured an award of more than $1bn (€874m) in London's High Court, after suing insurers when its jets were seized in Russia following the country's invasion of Ukraine. The $1.03bn award for AerCap, whose chief executive is Gus Kelly, is on top of previous recoveries it has secured in past settlements related to jets and engines stranded in Russia. AerCap, the world's largest aircraft lessor, had 116 jets and 23 engines seized in Russia following its invasion of Ukraine. The Irish company had initiated legal action in London against a slew of insurance and reinsurance firms including Lloyds, Liberty Mutual, Chubb, Fidelis and Swiss Re. In 2023, it secured $572m in a full settlement of claims under insurance policies of Russian carriers Ural Airlines and S7 in respect of a total of 47 aircraft and five spare engines. These were owned by AerCap entities and were leased to the airlines at the time of the Russian invasion of Ukraine in 2022. The action just concluded in the High Court in London followed a 12-week trial that included five other aircraft lessors, with AerCap acting as the lead claimant. AerCap was represented by international law firm Herbert Smith Freehills Kramer in the action. The other claimants included Dubai Aerospace, KKR's KDAC Aviation, Merx Aviation and a leasing unit ultimately owned by US-based MassMutual. During the course of the trial KDAC settled with its insurers, and its action was dismissed. There was a dispute between all-risk insurers and war-risk insurers The insurers had previously unsuccessfully challenged the jurisdiction of the UK court to hear the action, arguing it should be staged in Moscow. The judgment released on Wednesday relates to a total of 147 aircraft, 16 standalone engines and one other piece of equipment. The insured value of these amounted to over $4.5bn. A key issue concerned whether the lessors' aircraft had been lost to the claimants, and if so when and what caused such a loss. In particular, there was a dispute between all-risk insurers and war-risk insurers as to whether the cause of any loss of the aircraft was a commercial decision of the Russian airlines leasing the aircraft. In that case the all-risk insurers would be liable to the claimants, or an act or order of the Russian government, in which case the war-risks insurers would be so liable. Mr Justice Butcher found in favour of AerCap and the other lessors, ruling that their war-risk insurance policies were triggered following the seizure of their aircraft. He concluded that the aircraft had been lost, and that the loss occurred on March 19, 2022, when a piece of Russian legislation banned the export of aircraft and aircraft equipment from their country. There was also an issue as to whether EU or US sanctions prevented the insurers from indemnifying the claimants for the loss of aircraft which had been leased to Russian airlines. The judgment concluded that insurers were not so prevented by sanctions.
