Prime Dublin 2 development opportunity for €5.5m

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.

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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.