Prime Dublin 2 development opportunity for €5.5m

Lombard Street site has scope for residential, student accommodation or office scheme

An aerial view of the site shows its location within Dublin’s central business district.

An aerial view of the site shows its location within Dublin’s central business district.

 

Developers of office, residential and purpose-built student accommodation in Dublin are expected to vie for a prime site at the heart of the city’s central business district

The property at 19/20 Lombard Street and 112/114 Townsend Street, Dublin 2, is being offered to the market on behalf of a private investor by agent JLL at a guide price of €5.5 million.

The subject site extends to about 670sq m (0.165 acres) and benefits from high-profile frontage on the intersection between Lombard Street and Townsend Street. Its corner location offers scope, according to the selling agent, to achieve the highest possible site density with a height of up to 10 storeys potentially achievable.

The site is zoned Z5 under the Dublin City Development Plan 2016-2022, “to consolidate and facilitate the development of the central area and to identify, reinforce, strengthen and protect its civic design character and dignity”. The site thus has potential for a new residential development or other uses subject to planning, such as student accommodation, hotel etc.

Jacqueline Fitzpatrick, who is handling the sale on behalf of JLL, says other uses generally permissible under this zoning include: office, childcare facility, education, enterprise centre, hostel, hotel, live-work units, medical and related consultants and retail.

“The site has potential for over 4,000sq m gross internal area subject to planning and design,” she said.

The property is well located in close proximity to Trinity College Dublin, Grafton Street, and to the operations of a range of large international and domestic employers including Three, Dillon Eustace, Facebook, William Fry, and Grant Thornton, as well as a host of retail outlets, cafes and restaurants.