A development site facing the US Embassy in Ballsbridge, Dublin 4, is expected to make in excess of £5 million when it is auctioned by Gunne Commercial on October 18th. The terrace of five two-storey houses on Pembroke Road is being jointly offered for sale, opening the way for a trophy office development on a site of one-third of an acre in the heart of Dublin 4.
The houses and rear gardens, currently in commercial use, back on to Shelbourne Lane, offering further opportunities for a larger development. The site faces the US Embassy, and adjoins a terrace including the head office of Jurys Hotel Group, and the nine-storey Hume House office block. None of the houses is listed and there is a rear entrance opening on to Shelbourne Lane, which will allow for access for basement car-parking.
The sale underlines the potential to redevelop parts of the city where there is agreement between adjoining owners. In this case, the five vendors came together after it was realised that they had separate development plans themselves for their own commercial premises. Planning permission was obtained for a high-quality office development on one of the sites, and the vendors decided that one large scheme had greater potential. According to a feasibility study, a minimum of 30,000 sq ft of offices should be achievable on the site.
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