Retail Investments:The commercial element of the Lansdowne Gate development off the Long Mile Road in Dublin 12 is on the market.
It offers a purpose-built crèche, medical centre and retail facilities available as four units or as a whole for €4.2 million.
Lansdowne Gate is a large development of 280 apartments and associated facilities built by Cosgrave Property Group and designed by O'Mahony Pike Architects.
It is located on Slieve Bloom Park, accessed from the Long Mile Road at St Mary's Drimnagh Castle primary and secondary schools on one side of the scheme with pedestrian access to the Naas Road at the Bluebell Luas stop on the other side.
The commercial block is at the entrance to the scheme, just off the Long Mile Road. The block offers a crèche of 824sq m (8,870sq ft) with outdoor play area of 400sq m (4,300sq ft).
There are two retail units ranging from 91sq m (980sq ft) to 187sq m (2,010sq ft), and medical consulting rooms extending to about 317sq m (3,410sq ft) which will be of interest to GPs or primary healthcare facility operators.
The building is available in four separate units and is suitable for owner-occupies or for investors.
Selling agent Finnegan Menton is quoting a price of €2.7 million for the crèche, €1.1 million for the medical consulting rooms and €650,000 for retail units one and €750,000 for retail unit two. The crèche is being sold with the benefit of capital allowances.
The commercial development comes with 22 surface car-parking spaces adjoining the block for visitors and 19 basement spaces for staff.
"This is an excellent location for a purpose-built childcare facility adjacent to two schools and the significant surrounding residential population and businesses," says Nicholas Corson for the selling agent.
Lansdowne Gate also adjoins the area which has been designated as the "Naas Road corridor", an area set for large scale re-development similar to that seen in Sandyford.
An urban design master plan study has been commissioned by South Dublin County Council with a view to encourage the re-development of the Naas Road area as a "strategic gateway" to Dublin city for high density residential and office developments served by the Luas.
A number of developments are already anticipated on nearby sites, including the 18.7-acre Nissan site on the junction of Long Mile Road/Walkinstown Avenue and Naas Road which was acquired earlier this year by O'Flynn Construction for €115 million.
In addition, there are developments planned for the 14.3-acre SDS/An Post site which sold last year for €100 million, and the eight-acre "N7 Gateway" site sold last year for in the region of €37 million.
