Wednesday 28 June 2017

€3.8m for Clontarf residential development site

The prime site in Clontarf
The prime site in Clontarf
Ronald Quinlan

Ronald Quinlan

Agents CBRE are quoting a guide price of €3.8m for a 0.56 hectare (1.4 acre) residential development site on Mount Prospect Avenue in Clontarf, Dublin 3.

The site, which is being offered for sale by way of private treaty, provides for the construction of two large detached houses extending to approximately 184 sq m (1,980 sq ft) and 263 sq m (2,830 sq ft).

With an enviable location in the affluent north Dublin suburb of Clontarf, the development benefits from some 60 metres (196 ft) of road frontage on to Mount Prospect Avenue. It also has undisturbed views of both St Anne's Park and Dublin Bay.

Two separate feasibility studies have been prepared by Rory Ryan of Ryan & Lamb Architects to demonstrate the development capacity of the site.

Quite apart from the two large houses provided for in its existing planning permission, the site has the potential to accommodate a low-density scheme of 16 townhouses, or a higher density scheme consisting of 62 apartment units.

The property is zoned Objective Z1, 'to protect, provide and improve residential amenities under the Dublin City Development Plan 2011-2017.

Commenting on the site's potential, CBRE's Peter Garrigan said: "As with our involvement in the sale of residential development sites on Vernon Avenue and Howth Road, Clontarf, we anticipate strong demand from a variety of developers. This site provides an opportunity to develop a residential scheme with a host of amenities on its doorstep, including St Anne's Park and Dollymount Strand."

Located approximately 4km north of Dublin city centre, Clontarf provides an array of amenities including boutiques, salons, restaurants, cafés, health and fitness clubs as well as sporting facilities including golf clubs, Clontarf rugby and cricket clubs and Clontarf Yacht Club.

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