€3m for site of 1.68 acres in D7 with potential

A superbly located redevelopment site in Cabra, Dublin 7, is expected to generate considerable interest among developers when it is offered for sale this week on the instructions of receivers Simon Davidson and Michael Coyle.

Ross Shorten of Lisney is seeking in excess of €3 million for the 0.68 of a hectare (1.68 acres) beside the landmark Hanlon’s Corner at the junction of Old Cabra Road and Annamoe Road.

The site has frontage on to both roads and is opposite the Park House office block which is also currently for sale.

The site is easily one of the best to have been offered for sale in the north inner city in recent years.

Redevelopment
Although there are two detached buildings on the site extending to 2,250sq m (24,218sq ft) and providing a mixture of retail, office and storage facilities, new owners will undoubtedly opt for a high density mixed-use development to capitalise on the dual frontages.

The buildings are currently producing a rental income of €83,000 from a short term tenant, PH Ross Plumbing and Heating Suppliers.

There is a landlord's break in the lease in July, 2014, and at six monthly intervals thereafter.

Zoning
The land has a Z6 zoning under the Dublin city development plan "to provide for the creation and protection of enterprise and facilitate opportunities from employment creation".

The zoning will allow a wide variety of commercial uses including neighbourhood shops, car-parking, child care, enterprise, restaurant and retail uses.

Other uses open for consideration include residential development, car sales, factory shop and petrol station.

Lisney say there is already strong interest in the site as a result of enquiries received in recent months.