Lombard Street site zoned for hotel and residential use seeks €5.5m

Developers and investors involved in the delivery of hotel, residential-rental and purpose-built student accommodation may be interested in the opportunity presented by the sale of a brownfield site at the approach to Dublin’s south docklands. Located at 19/20 Lombard Street and 112/114 Townsend Street, the 0.165-acre (670sq m) holding is being offered to the market by agent JLL on behalf of a private investor at a guide price of €5.5 million.

The property is well situated in close proximity to Trinity College Dublin and to the offices of a broad range of large international and domestic employers including Google, Dillon Eustace, Informatica, Hubspot, William Fry and Grant Thornton, as well as a wide range of retail outlets, cafes and restaurants. The site is well connected by public transport and is in close proximity to the Dart at Pearse Street station, numerous Dublin Bus routes, the Luas green line stop at Trinity College, and the red line stop at George’s Dock in the IFSC.

The property is zoned Z5 under the Dublin City Development Plan 2022–2028. The objective of this zoning is “to consolidate and facilitate the development of the central area, and to identify, reinforce, strengthen and protect its civic design character and dignity” under the Dublin City Development Plan 2022–2028. A broad range of uses are permissible under this designation including hotel, residential and purpose-built student accommodation.

A feasibility study prepared by Tom Philips and Associates (TPA) suggests the site has potential for the development of a 127-bedroom hotel or an 89-bedroom aparthotel extending to 4,304sq m (46,328sq ft). Alternatively TPA is of the opinion that high-density residential or purpose-built student accommodation could be developed on the site, subject to planning permission.

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Ollie Lyons, who is handling the sale on behalf of JLL, says he expects to see strong demand for the property thanks to the combination of its prime location within Dublin’s central business district, favourable zoning and the dearth of similarly well-located development sites on the market.