Zoned M50 development land guiding €5.5m

Agent Knight Frank is guiding a price of €5.5 million (exclusive) for a strategic commercial development opportunity located next to IKEA’s flagship store in Ballymun, Dublin 11.

The site is currently in the ownership of Dublin City Council and is being offered for sale on a subject-to-planning permission basis.

Extending to 8.15 acres (3.3 hectares), the property currently comprises a greenfield, undeveloped site with frontage of 165m on to the New St Margaret’s Road, and profile of 170m to the M50 motorway.

The subject property is located just 100m from IKEA, while French sports retailer Decathlon is currently developing its new flagship store and Irish headquarter building on the adjoining site to the west. Additionally, Dublin City Council hopes to commence construction on its new North City Operations Depot on a site situated immediately opposite the subject lands having recently received planning permission.

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Accessibility

There are also a number of residential and commercial developments under construction currently in nearby Northwood.

The site itself is zoned Objective HT – High Technology, under the Fingal County Council Development Plan 2017-23. This provides for “office, research and development and high technology/high technology manufacturing type employment in a high-quality built and landscaped environment”. Uses permitted in principle under this zoning objective include offices, research and development, high technology manufacturing, hospital and industry-light.

In terms of its accessibility, the property is located just 700m from junction 4 of the M50 Motorway and close to the M1 interchange which provides excellent access to all major arterial routes. Additionally, the Port Tunnel provides easy access to both Dublin city centre and south Dublin.

The property has excellent public transport links with Dublin Bus services operating along both St Margaret’s Road and Ballymun Road. The proposed Metro Link line meanwhile includes a dedicated stop at Northwood, which is just 500m from the subject site.

Northwood is a much sought-after residential location owing to its setting within a mature 89-hectare (220-acre) estate with expansive parkland. The area is home to a mix of apartment and student-accommodation schemes, as well as numerous commercial developments including Gulliver’s Retail Park, Northwood Business Campus, Santry Sports Clinic and the four-star Crowne Plaza Hotel.

Kieran Bray and Evan Lonergan of Knight Frank say: “This property represents a fantastic opportunity to acquire a high-profile, strategic site with excellent transport links in close proximity to Dublin Airport and the M50/M1 Motorways. We anticipate strong interest from a wide range of operators.”