A round-up of today’s other stories in brief
Ready to go site makes around €23m
Brooklawn House, off Shelbourne Road in Ballsbridge, Dublin 4: a small group of private investors has agreed to buy the block. Photograph: David Sleator Ready-to-go site makes around €23m
Two Galway property investors have made a killing from the sale of the former Iceland site at Lower George’s Street in Dún Laoghaire. The two investors, who bought the site of 0.85 of an acre about two years ago for less than €10 million, sold it by tender last Friday for a figure believed to be around €23 million.
The high profile property was formerly owned by Murdochs DIY and was sold more than a decade ago to Iceland for a food store. It was acquired in recent years by a Northern Ireland investor who rented the premises to Iceland and managed to enlarge the site by buying in an adjoining shop and two cottages.
About two years ago he sold it on to the two Galway businessmen who, despite opposition, secured approval from An Bord Pleanála for a nine-storey tower to accommodate 83 apartments and 323sqm(3,477sq ft) of retail space on the ground floor.
Agent Palmer McCormack said yesterday it had "no comment whatsoever" to make on the sale of the site.
Sutton site sells for over €20 million
One of Dublin’s top housebuilders, Park Developments, has emerged as the purchaser of a residential site which forms part of the school grounds of the Dominican Sisters at Greenfield Road in Sutton, Co Dublin. The company, headed by Michael Cotter, is understood to have paid over €20 million for the 1.58 hectares (3.9 acres) located in an attractive coastal setting where there has been little development in recent years. It is close to the Dart.
Agent Donal O Buachalla, which had guided over €15 million for the site, estimated that it could accommodate around 100 apartments per hectare. A portion of the site is zoned as open space.
Around 1.32 hectares (3.3 acres) is zoned objective "RS" to provide for "residential development and to protect and improve residential amenity". The balance is zoned as open space.
¤9m for offices opposite Dublin Castle Agent Palmer McCormack is quoting a guide price of €9 million for a former State-owned office building at 14/16 Lord Edward Street, Dublin 2, which has full planning permission for conversion into a 61-bedroom hotel and café. Dating from 1905, the fivestorey building has a floor area of 1,962sqm(21,118sq ft) and three stairwells. It is virtually opposite Dublin Castle. New owners might opt for continued use as an office building because of the large number of hotels opened in the city in recent years.
Restaurants for Drury Street building
Douglas Newman Good is to launch a marketing campaign next week to let a former wholesale fashion building at 52–55 Drury Street, Dublin 2 which is shortly to be redeveloped. The fivestorey building is likely to have restaurants on the ground and first floors ranging in size from 127–133sq m (1,367–1,432sq ft).
The upper floors will be ideal as offices. The same agency has secured €1.85 million for a two-storey, self-contained office unit at Glencormack Business Park in Kilmacanogue, Co Wicklow.
