€2.5m for 1.41 acres in central Dublin

It is rare enough that a development site of almost 1.5 acres comes on the market in Dublin city centre.

For that reason alone there is likely to be strong interest in such a large plot from Aldi, Lidl and a range of developers when the property is offered for sale from today through Simon Plunkett of Douglas Newman Good Commercial.

The agency is seeking in excess of €2.5 million for the site of 0.57 of a hectare (1.41 acres) with its main frontage on to Dorset Street opposite the Maldron Hotel but also on to Paradise Place and Wellington Place in Dublin 1.

The plot accommodated for many years a garage and car showrooms for Mongey Plunkett who relocated to the North Road in Finglas, Dublin 11.

Dublin City Council granted planning permission for a mixed-use development including 137 apartments and ground floor retail and commercial units but the scheme was not proceeded with when the property market crashed. The planning permission has since run out.

The selling agents say they believe the site will also be of interest to companies providing student accommodation because of the close proximity to several third-level educational institutions and the fact that it is within five minutes’ walk of the proposed new DIT Grangegorman campus.

The site is also close to the Mater hospital and Temple Street Children's Hospital and will benefit from its close proximity to the proposed Luas cross-city line.

The extensive space is currently being used as an overflow car park and is particularly popular with medical and other staff at the Mater hospital who do not have free use of the new basement car park at the hospital.

The future use of the Dorset Street site may well include a high-rise car park as well as other facilities because of the paucity of car parking spaces in this part of the city.