With many builders scouring Dublin's suburbs for development sites, Wesley Rothwell of CBRE is confident of finding an early buyer for a mixed-use development plot just off the M50 on the N4 at Kennelsfort Road and Old Lucan Road in Palmerstown, Dublin 20. The guide price is €4 million.

The site has the advantage of having full planning permission for a mixed development.

Large retail outlet

The reality, however, is that a new owner might well have a different agenda such as the provision of a large retail outlet, a petrol filling station or a drive-through restaurant.

Any one of those enterprises would benefit from the 200m of frontage on to the Lucan Road (N4), one of the busiest roadways in west Dublin.

The irregularly shaped site extends to 1.48 hectares (3.65 acres) and has planning permission for 102 apartments, a 220-bedroom apartment hotel, 6,000sq m of retail space and an office development of 4,400sq m.

Rent roll

CBRE says the 3,667sq m (39,471sq ft) of industrial and business units on site, as well as car-parking facilities, are currently producing a short-term income of €152,000 a year.

The redevelopment site is located about 2.5km from Lucan and less than 500m east of the M50.

It is also directly to the southwest of Liffey Valley shopping centre.

There is a bus stop alongside the site which is serviced by the Lucan quality bus corridor.

The site is zoned “to protect, provide and/or improve local centre facilities” under the current South Dublin County Council development plan.