A PLOT OF land in Dublin’s docklands has been put up for sale for €27 million.
The five acre plot is on East Street on the north side of the docklands. Estate agents Savills says that it expects interest from residential and rental funds and developers.
The site is envisaged as being suitable for primarily residential use and is bordered by residential areas. The site is around 5.2 acres and is close to Connolly and Docklands rail stations and the Luas terminus at The Point.
A feasibility study, prepared by Dublin’s leading architectural firm O’Mahony Pike illustrates the potential of the site to accommodate around 400 apartments.
The property is currently occupied, however vacant possession is available by August 2018, Savills say.
“This provides the purchaser with an opportunity to benefit from short-term income whilst seeking planning permission for a scheme of development.”
According to Savills, prospective buyers will be provided with an opportunity to “capitalise on an area undergoing significant change in the north docklands” and also to “tap into the pent up local demand for residential accommodation both to rent and purchase”.
Under the Dublin City Development Plan 2016-2022, the subject property is zoned Objective Z14 (Strategic Development and Regeneration Areas).
There is no current planning permission in place.
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