D7 site primed for student or rental accomodation at €1.3m

Agent Knight Frank is guiding a price of €1.3 million for a well-located infill redevelopment opportunity in Dublin 7.

The subject site at 168-169 Phibsborough Road extends to 0.21 acres, and comprises two two-storey, mixed-use terraced buildings. There is a warehouse building and yard to the rear of the site with access provided via a gated laneway under part of No 168 Phibsborough Road.

The property is within walking distance of numerous amenities including the Mater hospital, the new TU Dublin (formerly DIT) Grangegorman campus, Phibsborough Shopping Centre, Dalymount Park, Croke Park and Dublin city centre.

In terms of public transport links, the site is just 500m from the Phibsborough Luas green line stop offering ready and regular access to O’Connell Street, Trinity College Dublin, St Stephen’s Green and as far south as Sandyford. A number of Dublin Bus services operate along both the Phibsborough Road and North Circular Road.

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The site is zoned Objective Z4 under the Dublin City Development Plan 2016-22. The aim of this objective is: “To provide for and improve mixed-services facilities.” Phibsborough is identified as “ Key District Centre 8” under the same plan.

Feasibility study

Reddy Architecture + Urbanism has completed a feasibility study identifying potential residential and student accommodation schemes for the site (subject to planning permission). These schemes consist of a 71-80 bed student accommodation scheme with ground-floor cafe, or an alternative development of 29 built-to-rent (BTR) apartments with a ground-floor retail unit.

Both of the proposed schemes comprise two blocks, ranging in height from three storeys fronting onto Phibsborough Road up to five storeys at the rear of the site, which adjoins the 19-metre high former furniture warehouse on North Circular Road. Significantly, as the site extends to less than 0.1 hectares, there would be no “Part V” obligation pertaining to any residential scheme (subject to planning permission).

Robert Wilson and Thomas King of Knight Frank say: “ Given this site’s proximity to the city centre and TUD Grangegorman, as well as the significant employment being generated in the area, we anticipate strong interest from a range of potential purchasers.”