Site in city centre with lapsed office permission for €4m-plus

Existing building has 7,222sq ft and leased by tenant with mutual break option in 2020

Site at the rear of Upper Mount Street on James Place East

Site at the rear of Upper Mount Street on James Place East

 

An opportunity to redevelop an office building in Dublin city centre is certain to attract considerable interest when it goes on the market today through Savills.

The agency is to guide in excess of €4 million for the site of 2.014sq m (0.18 of an acre) at the rear of Upper Mount Street on James Place East. It has a lapsed planning permission for an office block.

An existing building on site has a floor area of 671 sq m (7,222 sq ft) and is occupied by a tenant on a lease with a mutual break option at the end of 2020.

A new owner will have the opportunity to benefit from a short-term income stream while seeking planning permission for a new grade Al office building. A feasibility study by Tyndall Architecture & Design indicates that a new four-storey office building of around 1,689 sq m (18,276 sq ft) could be developed on the site.

The property benefits from vehicular access from James Place East and surface parking – a rare facility in such a central location.

The site at 46 James Place East is positioned directly opposite the recently refurbished Miesian Plaza, best known as the former Bank of Ireland headquarters, on Baggot Street. The area is home to many leading professional companies, including the same bank, Amazon and LinkedIn, and is within easy walking distance of the Luas and Dart.

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