Redevelopment LandSignificant interest is expected for a prime mixed-use development site in the heart of Finglas village. The quarter-acre site on McKee Avenue will be sold by tender through Savills HOK and carries a guide of €2.75 million.
The site, of about 0.1 hectares (0.25 acres), is on the west side of McKee Avenue next to the Superquinn and former ESB premises. Superquinn has already bought the almost half-acre ESB site and, as the properties adjoin, the supermarket chain is likely to have an interest in acquiring this site.
The location presents a number of opportunities given its zoning and location.
It currently serves as a petrol station and car showrooms and has a four-metre frontage onto McKee Avenue.
The property is zoned objective "Z4" district centre (mixed uses) "to provide and improve mixed services facilities".
This zoning permits a variety of high value uses, including residential and both district and neighbourhood shops, the agent points out.
It also lies in an area designated as a "prime urban centre" in the development plan for Finglas village.
This plan states that "such locations have been selected to ensure the establishment of high-density developments, significant residential population bases and the creation of vibrant retail/commercial cores".
The Finglas regeneration strategy - commissioned by Dublin City Council in 2005 - also refers to the subject property as part of the overall lands, stating "a comprehensive redevelopment of these lands providing a mixed-use development is sought".
"This excellent property is ideally suited to the development of a high quality mixed-use scheme with retail at ground floor level and residential on upper floors, subject to securing the necessary planning consent," says Paddy Cusack of Savills HOK.
"The quality and strong profile of the property is reflected in its Z4 district centre designation in the development plan," he adds.
The general area is enjoying a wave of both commercial and residential development, with strong sales seen at Prospect Hill, Cityside and Citygate, and the new mixed-use development at Charlestown by Bovale Ltd. Now under construction, this will provide 18,800sq m (202,361sq ft) of retail space and 285 residential units.
The latest date for receipt of tenders is noon on June 6th.
