Dublin 7 PRS Development Site
Dublin 7 Development Site Suitable for High Density Residential Scheme
Dublin, 24th October 2018 – CBRE has been instructed to offer a prime residential site of 0.49 hectares (1.21 acres) on Fassaugh Avenue, Cabra to the market, with a guide price of €6m.
The site, located approx. 3km North-West of O’Connell Street, is situated within the sprawling suburb of Cabra, Dublin 7. Cabra is bordered by Ashtown to the west, Drumcondra to the east, Glasnevin to the north and Stoneybatter to the south. It is also situated north-east of Phoenix Park, one of the largest enclosed recreational spaces within any European City, in addition to the National Botanic Gardens in Glasnevin. DIT’s Grangegorman Campus is also located within walking distance of the site, as is DCU, located approx. 3.5km away.
The site is ideally positioned in terms of transport links, with the LUAS Green Line Cabra stop located just over 600m from the site, providing regular services to major employment hubs such as the IFSC, Grand Canal, Sandyford & Dundrum. There are also a number of bus routes serving the area, providing access to Dublin City and the surrounding suburbs.
The site is zoned predominately Z1: Sustainable Residential Neighborhood, with a small portion to the front of the site zoned Z3: Neighborhood Centre the Dublin City Development Plan 2016 – 2022. The site benefits from Full Planning Permission for the construction of a student accommodation development, with a total of 194 bed space split between two blocks, with ancillary retail accommodation also provided. A feasibility study has been prepared by BDP Architects showing the potential for a 140 unit Build to Rent scheme with ancillary residential amenities. A feasibility study has also been carried out for a Co-Living scheme, showing the potential for over 250 bed spaces. Both schemes are subject to planning permission.
The site offers a developer the opportunity to acquire an ideally located site, with potential to develop a high density residential scheme with a wealth of amenities and transport links in the immediate vicinity.
CBRE are guiding excess €6,000,000 for the site.
The site is ideally located within close proximity to a number of major educational institutions and has the benefit of excellent transport links providing easy access to Dublin City and other major employment hubs. The site has the benefit of planning for a student accommodation development and given the zoning and access to transport links and amenities would suit a variety of uses subject to planning permission, including BTR & Co-Living.
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 150 employees, we work with occupiers, investors and developers of office, industrial and logistics, 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