Oxley Holdings Limited announced that it has entered into an agreement with Córas Iompair Éireann ("CIE") on an entitlement for Oxley to develop a site comprising part of the lands at Connolly Station, Dublin 1 of approximately 1.96 hectares (the "Site"). Connolly Station is one of the most central and highly accessible locations in Dublin City Centre with approximately 30,000 passengers per day. The Site is part of the strategic landmark scheme that CIE has been pushing forward to enhance passenger experience at the station, and create a revamped city centre with mixed-use residential, commercial, student accommodation properties and community and cultural functions. Under the Agreement, Oxley has the right to develop the Site in one or more phases. Upon the completion of the works in each phase and the submission of the requisite documents to CIE, Oxley will be granted a 300-year ground lease on the relevant development. Given the size and the preliminary plan of the development, Oxley is expected to enjoy significant opportunities to receive rental income through sub-letting the entire or part of the developed site.