Development Land: With ready-to-go residential sites in south Dublin particularly scarce at the moment, there is likely to be considerable interest in an infill site with full planning permission for 116 apartments at Booterstown Avenue, Blackrock, Co Dublin, which goes to tender on March 31st.
Carr Communications, who occupy a building on the site, has secured planning permission for a five-storey block on an adjoining piece of land.
Agent DTZ Sherry FitzGerald is quoting a guide price of around €18 million for the 2.4 acres which will appeal to developers awaiting planning permission at other locations around the city. Such a price would equate to around €155,000 per unit, a figure that will be looked closely at considering that 41 of the apartments will have a one-bedroom configuration and the remaining 75 will have two-beds. Floor areas for the one-beds will be 50.5-51.9 sq m (543-558 sq ft) while the two-beds will have 78.9-84.5 sq m (849-909 sq ft).
The selling agents predict that one-bedroom units should sell for around €360,000 while two-bedroom apartments could make €480,000 to €510,000. All apartments will be built with either a balcony or a patio. The site, currently occupied by single-storey blocks and an office building, is located at the busy junction of Booterstown Avenue and Stillorgan Road. It is within a few minutes drive of both Blackrock and Stillorgan with its range of shops, pubs and restaurants. There is a quality bus service from the dual carriageway in front of the site to the city centre. The site is being sold on behalf of property investor Charlie O'Reilly-Hyland.
