AN INTERESTING redevelopment opportunity in Dublin’s north inner city will arise shortly when a commercial building – Twilfit House at Upper Abbey Street in Dublin 1 – goes for sale at a price of over €10 million.
Alternatively, joint agents Lisney and Finnegan Menton will also be offering flexible lease terms in the expectation of securing an annual rent of €450,000 for the vacant building.
The three-storey over basement detached building extends to 2,610sq m (28,094sq ft) and has a number of single-storey outhouses and a rear yard. It stands on a site of 1,265sq m (13,616sq ft) on the corner of Upper Abbey Street and Jervis Street, a short distance from Mary Street and Henry Street.
The zoning objective for the site is to “consolidate and facilitate the development of the central area, and to identify, reinforce, strengthen and protect the civic design character and dignity” of the location under the Dublin City Council development plan which runs till 2011.
Planning permission has been granted to redevelop the building and replace it with a seven-storey over basement commercial office building with a gross floor area of 6,810sq m (73,302sq ft). This would include 4,761sq m (51,247sq ft) of offices, a ground floor atrium extending to 139sq m (1,496sq ft), 660sq m (7,104sq ft) of retail/café accommodation, 20 car-parking spaces, parking for 70 bicycles and ancillary accommodation. There are at least three multi-storey car-parks within close range: Jervis Street, Arnotts and the Parnell Centre.
