Redevelopment Site:Another waterfront apartment site has come on the market at Howth in north Dublin, writes Jack Fagan
DTZ Sherry FitzGerald is suggesting a guide price of over €10 million for the ready-to-go mixed-use development opportunity on the Teeling Motors site of 0.30 of a hectare (0.75 of an acre).
There is full planning permission for 39 apartments and five retail units as well as 98 car-parking spaces.
The site immediately adjoins the 5.83-acre Techrete plant which was sold in July to housebuilder Ray Grehan of Glenkerrin Homes for €50 million. It has mixed-use zoning and could potentially accommodate over 300 apartments, as well as shops and a hotel.
The Teeling Motors site, which is to be sold at tender on October 11th, has permission for 26 two-bedroom apartments ranging in size from 65-83sq m (700-893sq ft); 10 three-bedroom homes with between 80sq m (861sq ft) and 105sq m (1,130sq ft), and three one-bedroom units with 45sq m (484sq ft) and 47sq m (506sq ft).
There will also be five ground floor retail units ranging from 88-220sq m (947-2,368sq ft) and 98 car-parking spaces. The development will have a mix of three, four and five-storey blocks with the tallest building overlooking the sea and the grounds of Deer Park Golf Club. The other blocks will have a northern orientation.
The "suburban centre" zoning on the site is designed to "protect and enhance the special physical and social character of major suburban centres and provides and/or improves urban facilities". Notable uses permitted in principle under this zoning objective include residential, retail, restaurant and hotel.
The site is within walking distance of the Howth Dart station and the village centre where there is a wide range of shopping and leisure facilities. Dublin Airport can be accessed in less than half an hour at most times of day.
Howth is one of the most sought-after residential locations in north Dublin, not only because of its scenic views but also its accessibility and abundance of amenities and facilities.
Siobhan Doyle of DTZ Sherry FitzGerald says the apartments would ideally appeal to individuals trading down from large houses in the area and who wanted to remain close to the Dart station and local amenities.
Selling prices, according to the agents, should be in the region of €8,073 to €8,611 per sq m (€750 to €800 per sq ft) for the one and two-bedroom apartments while the three-bedroom units are likely to sell at €10,764 to €11,841 per sq m (€1,000 to €1,100 per sq ft).
