RedevelopmentSite: Prime residential development lands have become available on Dublin's Cork Street. The 0.2-hectare site, subject to planning permission, could accommodate about 60 apartments and has a guide price of about €7 million.

The Dublin 8 site, which includes a 195sq m (2,100sq ft) commercial/production facility, has obvious potential for redevelopment as a high density residential scheme, according to selling agent GVA Donal O Buachalla.

The site is included within an area zoned "Z4" to provide for and improve mixed services facilities in the Dublin City Development Plan 2005-2011 and would be ideal for the development of a high quality apartment scheme. The agent also suggests it could be incorporated into a larger development site with the purchase of adjoining properties.

The site could accommodate around 60 apartments over four-five storeys. Apartments on Cork Street can be expected to fetch up to €325,000 for one-bedroom units and €390,000 for two-beds.

The area has seen significant development and land there attracts considerable interest, the agent suggests.

Cork Street is currently undergoing major rejuvenation with the redevelopment of a number of sites, and the development of high density residential and mixed-use schemes, ranging in height from three to seven storeys.

The property is being sold on behalf of McGowan's Print Specialists, which is relocating to a larger premises in Poppintree Industrial Estate in Finglas.

The property will be sold by tender on July 13th.