Another illustration of the buoyant market for infill residential sites in south Dublin has emerged with the sale of the former Europa Motors in Blackrock, Co Dublin, for a figure well above the guide price.
Agents Lambert Smith Hampton had been seeking offers in excess of €4.8 million for the site. But with seven parties chasing it, it was sold to the highest bidder at €7.5 million.
The new owner is expected to seek planning permission for a development of houses and apartments.
The corner site extends to 0.50 of a hectare (1.25 acres) on Newtown Avenue at its intersection with Seapoint Avenue. It is within 0.87km of Blackrock town centre and 6.4km from Dublin city centre.
The site includes 2,016sq m (21,647sq ft) of former tram sheds, which were converted into car showrooms and workshops.
Rathdown County Council
granted planning permission in 2006, for a development of 60 large apartments on site, but this has since lapsed.
The zoning objective for the site is “to protect, provide and/or improve residential amenity.”
The site has 120 metres of frontage on to Newtown Avenue, a one-way thoroughfare convenient to public transport links, including the Quality Bus Corridor and the Dart stations at Seapoint and Blackrock.
McNamara Property advised the purchaser.