RedevelopmentSite: An interesting redevelopment opportunity in the centre of Dún Laoghaire will arise shortly when a five-storey over basement office building is offered for sale with full planning permission for a mixed-use scheme.

Joint agents Hooke & MacDonald Commercial and HT Meagher O'Reilly are suggesting a guide price of €12.5 million for the building on the south side of George's Street Upper which is to be sold at tender on May 19th.

Dún Laoghaire Rathdown County Council recently granted full planning permission for the conversion of the 3,680sq m (39,611sq ft) building to accommodate 676sq m (7,276sq ft) of retail space, 1,389sq m (14,951sq ft) of offices and 15 apartments. These units would have included eight two-bedroom apartments and duplex units, four one-bedroom homes and three three-bedroom duplex apartments. The planning permission provided for the retention of most of the existing structure including 52 basement car-parking spaces which could significantly reduce the redevelopment costs. However, two additional floors were to be added.

The entire development is exempted from the social and affordable housing scheme.

Since that permission was granted the vendors have prepared a revised planning application which would increase the residential content to 31 apartments of which 12 would be one-bedroom units and the remainder would be two and three-bedroom homes. This revised scheme would also allow for 782sq m (8,417sq ft) of offices on the ground and first floors and 286sq m (3,078sq ft) of retail space.

In either scheme the apartments on the upper floors will have exceptional sea views from Howth to Killiney which should attract a premium price.