"A total of 131 dilapidated structures found in Dublin's urban landscape"
Dublin, Ireland - A growing concern over dereliction in the city has led to the proposal of a Special Purpose Vehicle (SPV) by Dublin City Council. The SPV, a development company wholly owned by the council, is designed to tackle dereliction more effectively than the council can under current powers.
Dr Frank O'Connor, co-founder of Derelict Ireland, believes the number of derelict properties in Dublin is higher than the recorded number. As of July 2022, there are 131 properties on Dublin City Council's Derelict Sites Register. One such derelict property is Neary's Bar and Hotel on Parnell Street, now owned by Dublin City Council. An elderly inner-city resident has expressed a desire to see the property repurposed into flats for people to live in.
Dereliction has a significant impact on Dublin's communities, according to Dr O'Connor. He believes there has been a lack of cultural or political will to address dereliction in Dublin for several decades. The number of derelict buildings in Dublin city has increased by almost 80% in the last four years.
Cllr Janet Horner emphasizes the need for immediate attention regarding the collection of fines for dereliction. As of 2025, almost €9.9 million in fines for dereliction are outstanding. Cllr Horner suggests that it isn't easy to chase and pursue dereliction fines to the courts, but it is necessary.
Unlike the council, which must use the compulsory purchase order (CPO) process to acquire properties, the SPV would be able to acquire properties outside of the CPO process. This allows the council to take greater risks on revitalizing derelict sites in key areas of Dublin city, such as O'Connell Street, Abbey Street, Parnell Street, and Marlborough Street.
The SPV represents a strategic tool to more proactively and efficiently manage derelict sites by operating as a more commercially agile entity than the council itself. The development company, as a Special Purpose Vehicle, will have the ability to acquire properties outside of the Compulsory Purchase Order process, enabling quicker and less restricted interventions to rejuvenate the city centre.
Cllr Horner believes that Dublin needs to be alive and that derelict sites are antisocial to the city. The creation of the SPV is a step towards addressing the growing desire among people in Dublin for change regarding dereliction.
[1] Dublin City Council (2022) Special Purpose Vehicle for Derelict Sites. Available at: https://www.dublincity.ie/sites/default/files/2022-05/Special%20Purpose%20Vehicle%20for%20Derelict%20Sites%20-%20Business%20Case%20-%20May%202022.pdf [4] The Irish Times (2022) Derelict Dublin: City Council to establish new company to tackle derelict sites. Available at: https://www.irishtimes.com/news/local/dublin/derelict-dublin-city-council-to-establish-new-company-to-tackle-derelict-sites-1.4607162
Finance and investing opportunities in real-estate may be presented through the Special Purpose Vehicle (SPV) established by Dublin City Council, aimed at tackling dereliction in key areas such as O'Connell Street, Abbey Street, Parnell Street, and Marlborough Street. This commercially agile entity will have the ability to acquire properties outside of the Compulsory Purchase Order process, enabling more efficient and quicker interventions to revitalize derelict sites and potentially stimulate economic growth.
In the effort to address a growing desire for change regarding dereliction in Dublin, the SPV also presents an avenue for private investors to contribute towards the rejuvenation of the city center, potentially generating returns while positively impacting Dublin's communities.
