Agent CBRE is guiding a price of €6.75 million for a 0.67 hectare (1.65 acre) site with full planning permission for the development of 61 residential units in the south west Dublin suburb of Walkinstown.
Located next to the Long Mile Road and facing on to both Walkinstown Road and Balfe Road, the subject site offers the prospective purchaser the opportunity to deliver 56 one- and two-bedroom apartments and five townhouses into a market where demand continues to outstrip supply by a significant margin.
The existing planning permission (Dublin City Council planning reference: 2161/21) provides for the construction of 29 one-bedroom and 27 two-bedroom apartments and five three-bedroom townhouses. The one-bed apartment units range in size from 40-50sq m while the two-bed apartment units range in size from 68-86sq m. The townhouses extend to about 120sq m each.
A separate planning application (planning reference 2650/21) is pending for the development of a further eight residential units consisting of two two-bedroom semi-detached houses and six four-bedroom townhouses on an adjoining section of the lands.
While the subject site is occupied currently by a car park and mix of two-storey commercial/industrial buildings, the lands are zoned under the current and draft versions of the South Dublin County Development Plan as a mix of ‘Z4 – key urban villages’ and ‘Z1 – sustainable residential neighbourhoods’. The zoning objectives are to “To provide for and improve mixed-services facilities” and to “protect, provide and improve residential amenities” respectively.
The site is easily accessible by both private and public transport. A number of Dublin Bus routes including the 151, 124 and 27 connect the immediate area with Dublin city centre and surrounding urban areas. Links to major road routes are enhanced by the close proximity of the site to junction 1 on the N7 and junction 9 on the M50 motorway. The Red Cow Roundabout is situated about 4km from the subject site providing greater connectivity to the greater Dublin area and beyond.
Peter Garrigan of CBRE’s development land division says: “This is a rare opportunity to deliver residential accommodation in an established community on Dublin city’s doorstep. We anticipate strong demand from the development community given the asset’s positioning, the demand for residential accommodation and the prevailing planning challenges in the market.”
