Brennanstown Development Site for Sale
29.4 acres within the Cherrywood SDZ with exceptional development potential
Dublin, 19th September 2018 – CBRE are launching to the market by way of Private Treaty, on the instruction of Declan McDonald of PWC, a substantial residential development site of approx. 29.4 acres, situated within close proximity to the affluent south Dublin suburbs of Cabinteely & Foxrock.
“Brennanstown”, which is available in one or more lots, is situated off the Brennanstown Road, one of Dublin’s premier postal addresses. The site benefits from extensive frontage on to the Brennanstown Road and extends as far south as the Luas Green line at Laughanstown. The site, which is predominately situated within the Cherrywood SDZ, is largely undeveloped and contains five existing residential units.
The surrounding area enjoys a wealth of amenities, with Foxrock and Cabinteely villages offering restaurants, café’s, bars and retail facilities, while Dunnes Stores is located a short drive away in Cornelscourt. Cabinteely Park, spanning over 110 acres in size, is just a stone’s throw away and offers local residents the opportunity to indulge in peaceful walks among the lush greenery. Kilbogget Park, found on the opposite side of the N11, offers multiple playing pitches, catering for rugby, soccer and gaelic sports. UCD, Ireland’s largest university campus, is located approx. 15 min away via car while there are multiple secondary and national schools in the local area.
The site is strategically located roughly equidistant between the N11 & M50, offering easy access to Dublin City, Dublin Airport and multiple major arterial routes. The Luas, with stops located at Laughanstown, Brides Glen and Cherrywood provides convenient & regular services to major employment hubs such as Sandyford Business Park & Dublin Docklands, as well as Dundrum Shopping Centre & St. Stephen’s Green.
CBRE are offering the asset for sale in one or more lots. Lot 1 “Druid’s Glen” comprises of approx. 8.8 acres of residential development land & 11.1 acres of forestry land, while Lot 2 “Lehaunstown”, comprises of approx. 9.5 acres of residential development land, with a small portion zoned for town centre use under the Cherrywood SDZ. Lot 3, comprising the entire, extends to approx. 29.4 acres, with development potential for excess 400 residential units and approximately 600 sq m of commercial space. A report detailing the zoning status and planning potential has been prepared by John Spain & Associates and is available to interested parties.
With PRS developments becoming more prominent in the Irish market, coupled with the increasing demand for housing, this site offers the potential purchaser the opportunity to capitalize on both prevailing markets. Lot 1 allows for a lower density residential development which will appeal to a wide demographic of buyers, including trader-downers and expanding families. Lot 2 allows for higher density residential development, and given the commercial element required under the SDZ masterplan and the close proximity to the Laughanstown Luas stop, is ideally positioned to accommodate a PRS development.
CBRE are guiding excess €35,000,000 for the overall site.
Brennanstown is one of the most ideally positioned development sites within the Cherrywood SDZ considering it’s proximity to the Brennanstown Road and the Laughanstown Luas station. Conveniently positioned close to Foxrock and Cabinteely villages, the surrounding area is considered to be one of the most desirable residential locations in Dublin. The potential to develop both traditional housing and purpose built rental accommodation will appeal to the wider market and help to create a well-designed, vibrant community within the Cherrywood SDZ.”
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
CBRE U.C., (CBRE Ireland) registered in Ireland, no. 316570. PSRA Licence No. 001528 is the country’s largest commercial real estate services company with offices in Dublin and Cork. Currently employing over 135 employees, we work with occupiers, investors and developers of office, industrial and logistic, retail, hotel and healthcare property, providing strategic advice and execution for property sales and leasing; tenant representation, corporate services; property and project management; appraisal and valuation; development services; investment management and debt advisory; business rates and compulsory purchase and research and consulting. Please visit our website at www.cbre.ie