RedevelopmentSite: An office and retail block beside a number of transport links may be redeveloped for a higher density scheme, writes Jack Fagan

A retail and office building at the rear of Clerys department store on O'Connell Street in Dublin 1 is likely to be redeveloped when it goes for sale by tender on June 28th. Agent Hamilton Osborne King is quoting over €20 million for Sackville House, which is a three-storey mixed-use block with retail on the ground floor and offices overhead.

The block is being sold by Shelbourne Developments which acquired it about three years ago as part of a swop for the Lidl convenience store on Parnell Street.

Dublin city planners are expected to favour a higher density block on the 0.25-acre site at the junction of Sackville Place and Marlborough Street in the expectation that it could act as an anchor for the rejuvenation of the area behind Clerys.

The location has the advantage of being located beside several major public transport hubs, including the Luas, Dart and Busáras.

The three-storey block has five retail units at ground floor level with a total area, including mezzanines, of 929sq m (10,000sq ft) which are currently producing a rent roll of €200,786.

All but one of the retail leases are long term, including premises rented by Dublin City Council at €41,900 per annum.

A total of 1,672sq m (18,000sq ft) on the two upper floors are currently vacant.

The mixed-use zoning on the site under the current city development plan suggests that higher plot ratios may be permitted in order to maintain streetscape profiles and because of the block's proximity to public transport termini.

Shelbourne Developments will shortly have available a feasibility study on the likely planning potential for the Sackville Place site.