A submission lodged with the planning application confirmed that the proposal is designed for operation by Staycity as part of its “Wilde” brand.

The Ronan Group Real Estate (RGRE) firm, Waterside Block 9 Developments Ltd, has previously secured planning permission for an office block on the site.

Currently, the consortium is progressing with Phase one of the redevelopment of the Irish Glass Bottle site with 894 units now under construction.

The planned office site is 1.3 acres of an overall 13.3 acre site in Cherrywood, Loughlinstown, 12 acres of which is zoned for town centre development.

Last November, CIE said it sought possession of the site after Tanat failed to discharge a licence fee payment of some €186,500 which became payable as part of the lease agreement