Tuesday 25 July 2017

€1.25m for 18 acres with mixed-use potential in Swords

The site adjoins the proposed Metro North Lissenhall stop
The site adjoins the proposed Metro North Lissenhall stop
Ronald Quinlan

Ronald Quinlan

Agents CBRE are guiding in excess of €1.25m for a 7.28 hectare (18 acres) land holding at Lissenhall, north Co. Dublin, adjacent to the M1 Motorway and the R132.

The site, which is being offered for sale by private treaty, is ideally located within 3km of the established north Dublin suburb of Swords and 7.7km from Malahide. It is also within a short driving distance of Dublin Airport (6.6km), Dublin city centre (17.5km), the M50 (10.4km) and benefits from direct access onto the M1, which connects Dublin with Belfast.

The property is zoned Objective ME - Metro Economic Corridor under the terms of the Fingal Development Plan 2017-2023. The zoning aims to "facilitate opportunities for high-density, mixed-use employment-generating activity and commercial development, and support the provision of an appropriate quantum of residential development within the Metro Economic Corridor". With a proposed construction start date of 2021, or sooner, the Metro North is expected to rejuvenate the immediate area and will further improve the accessibility of the property. In addition, the proposed Metro North Lissenhall stop adjoins the subject lands, which further improves the connectivity of the asset.

The surrounding area is a strong employment hub with occupiers including Airside Business & Retail Park, Swords Business Campus and North Dublin Corporate Park. These can all be accessed via the R132 and the M1 Motorway. The area is well served by public transport as Swords is located on a Quality Bus Corridor (QBC).

CBRE's Peter Garrigan says: "The Swords area has continued to witness an upsurge in population and subsequent demand for residential and commercial opportunities. However, the provision of sufficient stock has been somewhat limited to date. The favourable zoning of these lands represents an excellent opportunity to development a mixed use commercial scheme, subject to planning permission."

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