RedevelopmentSite: The Atlantic Homecare facility in the Stillorgan Industrial Park is likely to be redeveloped for a large mixed-use scheme, writes Jack Fagan
A key redevelopment site has come on the market at the Stillorgan Industrial Park in Co Dublin. The Grafton Group is to sell the large Atlantic Homecare retail outlet on two acres on Blackthorn Avenue as part of a review of its sales outlets following the takeover of the Heiton Group.
Ben Pearson of Douglas Newman Good Commercial is quoting over €25 million for the site which is strategically located next to the former Allegro plant and within a short distance of the new Luas terminal.
There have been immense changes in property uses in the adjoining Sandyford business park in recent years and even more redevelopments are on the way.
The 7.5-acre Allegro site was recently sold by a consortium led by Treasury Holdings for €165 million. The site has full planning permission for a development which will include 880 apartments and 11,500sq m (123,758sq ft) of shopping facilities, retail warehousing and restaurants.
Also close by a company led by businessman Paddy Shovlin has already built the Beacon Clinic and the One Beacon Hotel. Development work is continuing on a new private hospital, offices, shopping and more than 850 apartments.
In the same general area the Siemens plant on an acre was sold recently for over €20 million to a Dublin consortium and is likely to be used for a mixed-use shopping and residential development.
Pearson says that the huge Atlantic Homecare facility is likely to be redeveloped for a mixed-use retail, office and apartment scheme when it goes to tender on April 26th. It will have particularly good road frontage, as it already faces on to Blackthorn Drive with an access point off Holly Avenue. It also backs on to a newly proposed link road.
The zoning for the site provides for it to be used "for economic development and employment" but, according to the agent, once industrial use has become redundant, residential use may be acceptable "where the primary use of the zone for employment creation is not jeopardised".
However, the uses permitted in principle are extremely broad, ranging from an abattoir to a hospital and from retail warehousing to offices.
The Atlantic Homecare premises will by no means be the last to be redeveloped on the Stillorgan Industrial Park. Site values are rising all the time because of the number of investors, as well as first-time buyers, looking for apartments close to the Luas service in south Dublin. Blackthorn Drive is also within a short distance of the M50.
Atlantic Homecare plans to relocate elsewhere in south Dublin once the present premises is vacated next year.
