A site extending to 3.5 acres with planning permission for a sizeable apartment development at Harold’s Cross Road, Terenure, Dublin 6W, will test the strength of the market in the south inner city when it is offered for sale today through agents HT Meagher O’Reilly.
James Meagher of that agency is guiding €3.5 million for the well located land which was acquired by a group of investors during the property boom. Most of the site is covered by the former Capco Roofing industrial plant.
Whoever buys it will have the option of developing an all apartment scheme or an alternative project with a mixture of apartments and a primary healthcare centre.
Credit for achieving such a high density on the site goes to architects O’Mahony Pike who originally secured permission for no less than 137 apartments in seven different blocks. More recently, the architects also got planning approval for 108 apartments together with a healthcare centre extending to 3,327 sq m (35,811 sq ft).
Even with those permissions available it will be no great surprise if a new owner opts for more traditional family houses which are again in short supply in the south inner city.
Meagher claims there has been a “massive resurgence” in confidence in the development market in recent weeks with many builders looking for a really top class site in the south inner city.