Friday 24 May 2019

South quays site with potential for 27 flats could fetch €2.75m or more

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Donal Buckley

Donal Buckley

A site on Dublin City's south quays with planning permission for 27 apartments and commercial space is for sale with a €2.75m-plus guide price.

Extending to 0.14 acres, the property currently comprises both 29/30 Usher's Quay, a three-storey building with car parking at ground floor level to the rear which is accessed by a gated archway, and also 1, 1A and 2 Usher Street, a terrace of derelict buildings.

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Its full planning permission allows for the demolition of all existing buildings and the construction of a new six- to seven-storey building with 27 apartments comprising five one-bedroom units and 22 two-bedroom units, above ancillary residential amenities and a commercial unit at ground floor level.

Kieran Bray of selling agent Knight Frank says: "As the site area is less than 0.1 hectares, there is no Part V social and affordable requirement pertaining to the site."

Its central Dublin location is within easy walking distance of a number of employment areas and amenities, including the Four Courts, Smithfield, St James's and St Patrick's hospitals, Guinness Storehouse and Phoenix Park.

The property also benefits from a wide range of public transport links, including numerous Dublin Bus routes which operate along the quays, as well as the Smithfield Red Line Luas stop, which is within 400m of the site. Heuston Station, a central transport terminus, offers regional and intercity rail services less than 1km away, while there is also a Dublin bike station within 300m. Mr Ray says its manageable lot size could lend itself to either a build-to-sell or a build-to-rent development.

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