Two ready-to-go residential sites in Dublin 8 with permission for a total of 124 apartments are guiding a combined €11.5 million through joint agents Hooke & MacDonald and CBRE.
Both sites, occupied by derelict commercial buildings, are in the Cork Street area about 2.2km from the city centre. This part of the capital is set to undergo considerable redevelopment with the national children's hospital already taking shape and major schemes planned for St James's Gate and the Players Wills site on the South Circular Road.
The site at 43-50 Dolphin’s Barn extends to 0.32 hectares (0.8 acres) and is available for €7 million. It has permission for a seven-storey scheme of 70 apartments with 1,136sq m (12,228sq ft) of retail at ground floor level.
According to the agents, there is potential for a further six apartments (subject to planning permission) while a feasibility study suggests the site could also suit a co-living scheme of 220 units.
The other site, at 75-78 Cork Street, extends to 1,618sq m and has permission for a seven-storey complex with 54 apartments and retail at ground floor level.
Both schemes were designed by Henry J Lyons Architects and offer a mix of one- and two-bed units.
The sites are about 650m from the Luas which provides connectivity to docklands and major public transport interchanges.
Given the strength of the build-to-rent market, it is likely that developers specialising in this fast-growing market will consider the sites.
