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
The development site at the corner of Townsend and Shaw streets, D2 is expected to attract a great deal of interest when it goes on sale today
Development site at the corner of Townsend and Shaw streets, D2
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.