A site of five acres in Sandyford will probably accommodate a large mixed-use scheme and a signature building, writes Jack Fagan.

One of the best development sites to come on the market in Dublin in recent years - five acres off the Leopardstown Road roundabout - is expected to make over €80 million when it is sold by tender on June 9th through agent HT Meagher O'Reilly.

It occupies what it arguably the highest profile position in the area, fronting not only on to the roundabout but also the Leopardstown Road and Burton Hall Road. It is also within walking distance of Leopardstown racecourse, the Luas Green Line and Foxrock.

James Meagher of the selling agent advises that the site is ideal for a mixed-use development of retail, offices and apartments with a high rise signature block fronting on to what is an important junction.

The site has about 200 metres of road frontage on to the Leopardstown Road and 180 metres along the Burton Hall Road.

The adjoining Sandyford area is undergoing major changes with several large scale residential/commercial developments either under way or about to begin.

Fleming Construction recently paid €165 million for the 7.7-acre Allegro site which has planning permission for over 880 apartments and 11,612sq m (125,000sq ft) of commercial space.

Directly opposite the five-acre site in Central Park, another developer paid €50 million last December for 2.8 acres which has planning permission for 430 apartments. The ground floor retail area will have to be returned to Treasury Holdings. Even before construction begins, a large number of the homes have already been sold off plans.

The first major scheme in the area, Beacon Court, has been one of the great success stories of the present property boom with a huge demand for its 800 apartments and 16,722sq m (180,000sq ft) of retail facilities.

The exceptionally strong market has pushed apartment prices up to an average of €7,319-€7,750 per sq m (€680-€720 per sq ft). Part of the appeal has been the Luas service which takes commuters into St Stephen's Green in about 20 minutes.