Developers and investors involved in the delivery and operation of residential accommodation in Dublin’s thriving private rented sector market will be interested in the opportunity presented by the sale of Cookstown Cross in Tallaght.
Guiding at a price of €8.5 million through agent Cushman & Wakefield, the sale comprises a brownfield site of 0.71 hectares (1.75 acres) with full planning permission for 208 residential units and ancillary commercial space across seven storeys. The approval provides for 154 apartments consisting of a mix of 41 studio, 84 one-bed and 29 two-bed units, along with 50 two-bed and four three-bed duplexes.
The approved scheme also includes a number of residential amenities such as a concierge, gym, meeting rooms, co-working space, a lounge and cinema. The construction of a cafe, creche and commercial unit is also permitted. The scheme will also have 73 car-parking spaces at podium level.
The Cookstown Cross site is situated in the heart of Tallaght, and just 10km southwest of Dublin city centre. The immediate area is well served by a range of amenities including The Square shopping centre and Tallaght hospital. The Luas red line stop at Tallaght hospital is located less than a five-minute walk from the subject site.
Paul Nalty of Cushman & Wakefield says: “Cookstown Cross will provide much-needed high-quality rental accommodation and will certainly assist with the chronic shortage of properties to let within the market.”