Jesuit jackpot as Milltown Park site is sold for €66m

The Jesuits are completing extensive utility works at their 10.5 acre site in Milltown Park – a prime real estate location in Dublin – following its €66m sale .

The Irish Catholic believes the site in the prized residential area of Ranelagh was sold to Ardstone Capital for circa €66m after intense competition, €10m more than it was put on the market for last year. It is understood the developer will seek to build a variety of high-end residential properties.

Utilities

According to Fr Bill Callanan SJ, rector of Milltown Park, they are at the final stages of extensive separation works to make sure utilities of their other buildings don’t encroach on the land that was sold.

He said: “Subsequent to the sale we’ve had a period of several months when we would assure them that we would reroute so as to close down any drains or water outlets or power outlets on the land they were purchasing and if we didn’t do that by a certain date they would be entitled to come in and do it in order to protect their interests.

“So we were anxious to do that and it’s taken quite a long time now in the last few months and it’s just winding down at the moment. That process is basically finished but only in the last couple of weeks.”

Milltown Park was dedicated to the formation of Jesuits for more than 160 years until catering for other orders and lay people since the 1960s.

Proceeds of the sale are expected to go towards Jesuit projects oversees, their Irish schools, social justice works, elderly religious and more.