Ready-to-go site at Citywest sells for over €5.5m
Agent Knight Frank has secured a price in excess of €5.5m for a 'ready-to-go' residential development site located on Fortunestown Lane at Citywest in south Dublin.
Extending to 6.7 acres, the site has planning permission in place for 128 residential units and commercial space in an area already well-established as a sought-after residential location popular with first-time buyers.
The site benefits from exceptional transport links, being situated within a short walk of the Fortunestown stop on the Luas Red line and within close proximity to the Naas Road (N7). A number of Dublin Bus services run along the N82 Citywest Road to the east, all of which make the site highly accessible to Dublin city centre, Tallaght town centre and the M50 Motorway.
The site also benefits from being situated in a significant employment catchment area with Citywest Business Campus, Tallaght Business Park and Baldonnell Business Park all nearby. Citywest Shopping Centre is located directly opposite the subject site on Fortunestown Lane.
Kieran Bray of Knight Frank says: "The site attracted considerable interest due to its attractive lot size and the dearth of ready-to-go opportunities of this scale in Dublin at present, particularly in an area that would fall into the first-time buyer price category and qualify for the 'Help to Buy' rebate scheme. This, coupled with the property's strategic location and excellent transport links, is reflected in the strong price achieved".