Friday 19 October 2018

Dublin city new homes site at €9m

An aerial view of the site at Conyngham Road in Dublin
An aerial view of the site at Conyngham Road in Dublin
Ronald Quinlan

Ronald Quinlan

Agent CBRE is guiding a price of €9m for a prime city centre site of 0.38 hectares (0.94 acres) on Conyngham Road in Chapelizod, Dublin 8.

Located adjacent to the Dublin Bus Depot and directly opposite the Phoenix Park, the site is zoned Z5 "City Centre" under the Dublin City Development Plan 2017-2023 and is suitable for multiple uses. A feasibility study illustrates the development potential of a Build-to-Rent (BTR) scheme, comprising 100 units with a mix of one-bed studios and one, two and three bed apartments. A separate study suggests the site could accommodate a co-living scheme comprising over 200 units.

While the property is currently occupied by a garage facility and a car park, it will be sold with the benefit of vacant possession.

The site has 67 metres of frontage on to Conyngham Road and enjoys the benefit of excellent transport links to Dublin city centre. The Luas is located at Heuston Station 900 metres away, while numerous bus routes serve the area.

The surrounding area is steeped in culture, with the National Museum of Ireland, Irish Museum of Modern Art, Kilmainham Gaol Museum, Royal Hospital Kilmainham, Guinness Store House and the Phoenix Park all located within walking distance of the property.

Darragh Deasy of CBRE's development land division says: "It's an ideally located site offering the potential to develop a high-density residential scheme amidst a wealth of amenities and transport links."

Indo Business

Business Newsletter

Read the leading stories from the world of Business.

Also in Business