Donnybrook site with potential for residential development at €5m
Bryan Molloy of agent Kelly Walsh is seeking offers in excess of €5m for a prime investment opportunity with significant medium-term development potential located at the heart of Donnybrook, Dublin 4.
The subject site is located on a corner site with dual frontage onto Donnybrook Road and Brookvale Road which connects into Eglinton Road. The site - occupied currently by two tenants, Ard Services Ltd t/a Circle K and First Stop Tyres - is zoned Objective Z4 (Mixed Services).
The Circle K service station sits on 0.26 acres (0.11 hectares) with a large canopy covered forecourt and retail shop. This property is let for a term of 10 years from May 2014 at an annual rent of €165,000. There is a rent review due in May 2019 which presents excellent reversionary potential.
The additional commercial unit of approximately 354 sq m (3,810 sq ft) adjoining the service station and occupied by First Stop Tyres also forms part of the sale.
Bryan Molloy says: "This is an exceptional opportunity to acquire a trophy investment in the heart of Donnybrook with excellent medium-term development potential, subject to planning permission."
The subject property comes to the market just weeks after the sale of the former Kiely's public house was agreed. Located on a 0.2 acre plot, the landmark pub's site is also zoned Objective Z4 under the current Dublin City Development Plan 2016 - 2022. Permissible uses include residential, office, hotel, hostel, restaurant and retail.
Donnybrook is undergoing something of a transformation following the sale by RTE of 8.64 acres at its Montrose campus to Cairn Homes, together with a more recent planning application submitted for a hotel within the village itself.