Breathing new life into unused old buildings is the aim of Danoj Developments headed by Irish entrepreneur Daniel MacAuliffe, a scion of the Guiney family of Clerys department store fame.
In contrast to most developers who prefer greenfield sites or brownfields, which have the potential for scale developments, Danoj has set its sights on more modest projects which others might consider lost causes.
Already, the firm has acquired eight Dublin inner city properties which it has either refurbished or is in the course of refurbishing.
From the perspective of most developers, their challenges could be summed up in three terms: protected structures, long unused, and unwanted.
Danoj’s approach is to fund the purchase price from its own resources and seek funding for the refurbishment work. With the help of Seaspray Financial Services, who provide corporate finance and investment management services.