Shrewsbury Road Residential Development Opportunity - Full Planning Permission For 7 Superior Luxury Dwellings

Former Chester Beatty Library Site, Shrewsbury Road, Dublin 4

Dublin, 11 May 2016 – CBRE has been instructed to offer a unique and prestigious 0.5 hectares (0.98 acre) residential development opportunity on the prolific Shrewsbury Road, Dublin 4 to the open market by way of Private Treaty.

The Former Chester Beatty Library Site, nestled in the affluent residential suburb of Shrewsbury Road, benefits from Full Planning Permission for the development of 7 large family homes. The lands, irregular in shape providing vehicular access from Shrewsbury Road, accommodate a derelict residential property and ancillary lands.

The property benefits from a 5 year grant of planning permission as of 19 March 2014 for the development of 7 large bespoke houses extending from 314 sqm to 514 sqm. This unique development also provides secure and private underground car parking facilities for its residents. This exclusive scheme has been designed in two blocks consisting of large bespoke 3 & 4 bed residential units.

The proposed scheme has been designed by award winning architects McCrossan O’Rourke Manning Architects who have a vast experience in the design of such quality infill development opportunities.

Located within Dublin City Development Plan 2016 – 2022 the lands are zoned objective Z2 – ‘to protect and/or improve the amenities of residential conservation areas’.

This rare opportunity nestled in the affluent residential suburb of Mount Merrion neighbours the internationally recognised RDS Simmonscourt. Located on Dublin city centres doorstep (4km), this Shrewsbury Road development opportunity presupposes a lifestyle of comfort and elegance by providing an array of amenities including the Aviva Stadium, the RDS, Herbert Park, the Intercontinental and Hilton Hotels which all contribute to the exclusivity of the address. Ballsbridge and the surrounding area has developed into a sporting mecca and has substantial sporting history.

The Royal Dublin Society (RDS) was developed in 1879 and has become a major venue for concerts, exhibitions, conferences and sporting events of all sizes and is also home to Leinster rugby. Its Main Arena hosts many equestrian events including the Dublin Horse Show.

Nowhere else in Dublin will you find a bigger concentration of sporting clubs and facilities including cricket, tennis, hockey, rugby, soccer, bowling etc. The state-of-the- art Aviva Stadium, which holds 51,700 is also located in the area, which is home to the national rugby and soccer teams.

The villages of Ballsbridge and Donnybrook are a short walk away with an array of shops, boutiques and restaurants. Herbert Park, extending to 32 acres, caters for an extensive range of amenities including bowling greens, tennis courts, football pitches and playgrounds.

The Former Chester Beatty site represents an opportunity to provide a mix of large family dwellings in an intimate neighborhood environment close to all amenities and has been designed in a secure and gated setting in the heart of Dublin 4.

CBRE are quoting a guide price of excess €10 million for the entire site.

Peter Garrigan, Associate Director, Development Land
"Shrewsbury Road is internationally recognised as Ireland’s premier residential address. Seldom do opportunities such as this present itself to the open market allowing the eventual purchaser to develop a prestigious and unique residential scheme consisting of 7 large family homes in the heart of Dublin 4 whilst having regard to the surrounding conservation area. The proposed houses providing extensive floor plates extending from approximately 3,500 – 5,500 sq ft are sympathetic and subservient to the surrounding and immediate area. We believe this exceptional opportunity will appeal to both domestic and international bidders"
Peter Garrigan, Associate Director, 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.

CBRE U.C., registered in Ireland, no. 316570. PSRA Licence No. 001528 is the country’s largest commercial real estate services company, now employing over 132 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.