ONE of the best development sites to come on the market in Dublin is likely to be of interest to hoteliers and residential developers, as well as office builders. Hamilton Osborne King is handling the sale of the cleared site, which goes to auction on March 11th. It has frontage on to Upper Hatch Street and Adelaide Road. The agency is not providing a guideline price but with prime sites extremely difficult to find in the south inner city, it could make between £3 million and £4 million.
The property is being sold by Norwich Union, which secured planning permission for two high-quality office buildings fronting on to each of the streets with a gross floor area of 87,000 square feet.
Roland O'Connell of HOK says the Dublin office market is likely to remain strong. Take up over the past three years had reached record levels and there was now only 576,000 square feet available, the equivalent of 4 per cent of the total stock.
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