Prime Co-Living Development Opportunity on Donore Avenue, Dublin 8
Dublin, 20th September 2018 – CBRE has been instructed to offer a prime City Centre site of 0.33 hectares (0.82 acres) on Donore Avenue, Dublin 8 to the open market by way of Private Treaty, with a guide price of €6m.
The site, located just off the South Circular Road, is located within close proximity to Dublin City which offers a host of amenities. Griffith College is located within walking distance of the site, while St. Stephen’s Green is located approx. 2.2km west of the property. The site also benefits from excellent transport links, with multiple bus routes serving the immediate area while both the Green & Red Luas lines are located within 1.5km of the property, providing access to major employment hubs such as the Dublin Docklands, Sandyford Business Park and Cherrywood Business Park.
The surrounding area is currently undergoing mass regeneration, with the old John Player’s Factory, located within 150m of the subject property, recently being earmarked to undergo significant redevelopment to create a new urban quarter in Dublin 8. Other key developments include the €1b development of the new National Children’s Hospital, as well as multiple student housing developments currently under construction.
The site extends to approx. 0.82 acres and is accessed from Donore Avenue. It currently lies vacant and is shovel ready, with demolition works complete and offers the purchaser the rare opportunity to acquire a greenfield development site in an area of Dublin City which is undergoing mass development. The site has the benefit of planning permission for approx. 70,000 sq ft (Gross) of LEED Gold Quality office accommodation with provision for a basement car park. A feasibility study has also been prepared by Henry J Lyons, showing the development potential to deliver a Co-Living development of approx. 210 bed spaces, subject to planning permission being obtained.
The site offers a developer the opportunity to acquire an ideally located site, with potential to develop an office development a high density residential scheme with a wealth of amenities and transport links in the immediate vicinity.
CBRE are quoting a guide price of €6,000,000 for the entire site.
The Dublin 8 area is currently undergoing a social, physical and economic evolution. This site offers interested parties to partake in the regeneration programme the surrounding area is currently undergoing. The potential to deliver a Co-Living development in what is a prime city fringe location will appeal to developers, particularly given the proximity to transport links and major employment hubs.
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