Foxrock housing site on market for €5m

Development in Dublin 18 has permission for 24 homes and apartments across 1.1 acres

 

A site of 0.67 of a hectare (1.65 acres) with planning permission for a residential development at the Stillorgan Road, Foxrock, D18, goes on sale from today at more than €5 million.

Peter Garrigan of CBRE is to set up a tender arrangement to sell the site, which has permission for 16 one-, two- and three-bedroom apartments, ranging in size from 73 to 135sq m (785 to 1,453sq ft), and seven four-bedroom houses with floor areas extending from 184 to 195sq m (1,980 to 2,098sq ft). The infill site is located within 1.4km of Foxrock village and 1.5 km of Cabinteely village.

Garrigan said the upsurge in demand for residential properties in Foxrock had resulted in strong and consistent capital values being achieved. The mix of houses and apartments planned for this location will appeal to occupiers planning to downsize.

Office building in Rathfarnham

Lisney is quoting €1.45 million for a fully let three-storey modern office building at Nutgrove Office Park off Nutgrove Avenue in Rathfarnham, Dublin 14, which will show a net initial yield of 8.5 per cent.

Unit A1 extends to 761sq m (8,191sq ft) and is let to two tenants, Coty Ireland Ltd and Dillon Solicitors, at a combined rent of €129,000. Coty has a five-year lease from January 2016, and Dillon has a lease of 19 years and 11 months from 2007.

The building has an impressive triple-height atrium with a feature spiral staircase and separate lift. The office space is primarily open-plan with tenant fit-out, including a number of cellular offices, meeting rooms and canteen as tech level. The grounds includes 12 car parking spaces.

The sale is being handled by Duncan Lyster and Maria Duffy of Lisney.

Retail unit near Ranelagh village

Agents Knight Frank is guiding in excess of €320,000 for a ground-floor retail unit at 22b Sandyford Road on the southern side of Ranelagh village in Dublin 6, which will show an initial yield of 7.17 per cent. The standalone unit extends to 35.94sq m (387sq ft) and is let to Scoop Dessert Parlour on a 25-year lease from 2016 at a rent of €24,000 per annum.

Knight Frank is also guiding €400,000 for a long leasehold interest in a shop at Westmoreland Street, Dublin 2. The property is held on a 99-year lease from 1953 at a nominal rent. The premises extends to 110sq m (1,187sq ft) spread over ground, basement and mezzanine level. It is to be sold with vacant possession and the opportunity for a retailer to acquire a long-term presence on one of Dublin’s busiest streets at a nominal rent.

Alternatively, the property may be acquired by an investor with potential to sub-lease the shop at an estimated rent of more than €55,000 per annum.