Monday 23 September 2019

Dublin 7 site at €6m has planning for 194 student bed spaces

Cabra land also offers scope for 140 apartments

Aerial view of the proposed student accommodation scheme on Fassaugh Ave in Dublin 7
Aerial view of the proposed student accommodation scheme on Fassaugh Ave in Dublin 7
Artist’s impression of the proposed student accommodation scheme on Fassaugh Ave in Dublin 7
Artist’s impression of the proposed student accommodation scheme on Fassaugh Ave in Dublin 7
Ronald Quinlan

Ronald Quinlan

Agent CBRE is guiding a price of €6m for a 1.21 acre site in Cabra, Dublin 7 with full planning permission for a 194 bed space student accommodation development. The subject property also offers the potential for a Build-to-Rent (BTR) scheme comprising 140 apartments, according to a feasibility study prepared in advance of the sale.

Located on Fassaugh Avenue, close to the junction with Fassaugh Road and Quarry Road, the site is ideally placed within close proximity to Dublin City Centre, 3km north west of O'Connell Street and 15km south of Dublin Airport. The subject property has the benefit of prominent frontage on to Fassaugh Avenue and is ideally located within walking distance of Cabra and Phibsborough, with the new DIT Grangegorman campus also located within walking distance.

The site extends to an area of 0.49 hectares (1.21 acres) and is occupied by the former Matts of Cabra to the front of the site, while the rear of the property is currently vacant and undeveloped. The site narrows to the rear and is bound by residential units to the east and a steep decline to the train line to the west. A steel fence provides a boundary between the site and the train tracks.

The site benefits from full planning permission for the construction of a student accommodation development, with a total of 194 bed spaces split between two blocks, with ancillary retail accommodation also provided.

A feasibility study has been prepared and is available upon request. The study shows the potential for 140 units in a Build-to-Rent (BTR) scheme with ancillary residential amenities. The proposed 140 apartments comprise 69 one-bed apartments, 66 two-bed apartments, and five three-bed apartments.

A separate feasibility study has also been carried out for a Co-Living scheme. This scheme would see the delivery of 11,380 sqm (122,493 sq ft) of space comprising 250 bed spaces of 20 sq m (215 sq ft) each, and 500 sq m (5,382 sq ft) of flexible work space. The proposed scheme also allows for an internal amenity area of 1,100 sq m (11,840 sq ft), an external amenity area of 2,000 sq m (21,528 sq ft), and 10 surface car parking spaces.

Both the BTR and Co-Living schemes are subject to planning permission.

The subject lands are zoned Z1: Sustainable Residential Neighbourhood, with a portion of the site zoned Z3: Neighbourhood Centre under the Dublin City Development Plan 2016-2022.

The Cabra area is well served by public transport links, with multiple bus routes providing links to Dublin city centre and the surrounding area.

The subject property itself benefits from its proximity to the newly-extended Luas line, with Cabra Luas stop located just 850m away providing ready access to Dublin City and other major employment hubs such as the IFSC, Sandyford and Dundrum.

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