Dublin,
25
May
2016
|
10:00
Europe/Dublin

Development Opportunity on Prussia Street Dublin 7

Dublin, 20 May 2016 – CBRE has been instructed to offer an excellent 0.06 hectares (0.156 acre) development opportunity on Prussia Street Dublin 7 to the open market by way of Private Treaty.

The site which incorporates an existing building extending to approximately 630 sq m (6,781 sq ft) lies between the two proposed entrances to the recently opened DIT Grangegorman campus. Grangegorman is expected to accommodate as many as 10,000 students by 2017, and 20,000 upon completion in 2020.

The site, located in the heart of Dublin, is close to all the amenities the city centre has to offer and is well served by Dublin Bus. The proposed Broombridge LUAS extension which is due to incorporate a LUAS stop at Grangegorman will only improve the accessibility to the area. The surrounding area comprises a mix of low – medium density housing and commercial occupiers.

The immediate area has seen an uplift in actively and development in recent years, with the opening of the DIT Grangegorman campus acting as the catalyst. The increase in activity within the area has resulted in increased demand for both commercial and residential space.

The property is zoned objective "Z6" – Employment/Enterprise, which is "to provide for the creation and protection of enterprise and facilitate opportunities for employment creation" in the Dublin City Development Plan 2011-2017.

CBRE are quoting a guide price of €285,000 for the entire site.

Peter Garrigan, Senior Surveyor, Development Land
The asset will appeal to an array of developers and end users including retail occupiers. The opening of DIT Grangegorman is a welcomed arrival and assisted to the rejuvenation of the immediate area.
Peter Garrigan, Senior Surveyor, Development Land

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), 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 2016 revenue). The company has more than 75,000 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.

In Ireland, with offices in Dublin and Belfast, CBRE is the country’s largest commercial real estate services company, now employing over 165 employees and offering a full range of property services including property sales and acquisitions, leasing and management, investment, corporate services, debt advisory, project management, consultancy, business rates and compulsory purchase, valuations and research. Please visit our website at www.cbre.ie or www.cbre.ie/ni.