D2 site with lapsed office block permission on sale for €3m-plus

Feasibility study finds development potential for office/retail hybrid up to 31,000sq ft

 

A two-sided development site on the corner of Townsend Street and Shaw Street in Dublin 2 is expected to grab the attention of investors and developers when it goes on the market today at a guide price of more than €3 million.

The site backs on to the railway line close to Tara Street station and extends to 0.229 of an acre (0.0929 of a hectare).

In January 2009, Dublin City Council granted permission for the demolition of all existing buildings on site and their replacement by a nine-storey office block over retail facilities. The planning consent has since lapsed.

RKD Architects recently prepared an in-depth feasibility study for the site in line with the current development plan. It suggests five different building options comprising office accommodation over ground-floor retail use. The options range in size from 2,160sq m (23,250sq ft) to 2,890sq m (31,017sq ft).

Finín O’Driscoll of agent Knight Frank said that given the site’s positive planning history together with the RKD study, the sale will likely attract a great deal of interest from a wide market.

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