It was announced today that a site with planning permission for 358 apartments has been brought to the market by Savills with a guide price of excess €18m. Planning permission was granted by An Bord Pleanála on 22 December 2011 for 358 apartments accommodated in 5 to 7 storey blocks.
A feasibility study undertaken by Fenton and Associates Architects shows potential to increase the number of units, without necessarily increasing the total gross floor area, to more than 400 apartments (subject to the necessary planning consents).
Situated on the Swords Road in Dublin 9 – a predominantly residential north Dublin suburb – the property extends to 6.75 acres and also includes planning permission for 8,708 sq. ft. of commercial accommodation.
Savills say the the site is well-located with Dublin Airport within a 10 minute drive and Dublin City University and St Patrick's College all within walking distance. Furthermore, the city centre is 4km to the south and the M50 motorway just 2km to the north.
In terms of public transport, the site is well served by 10 Dublin Bus services along the QBC to the front of the site. Furthermore, the new Metro North subway is planned to stop at Griffith Avenue approximately 1.5km from the property.
Savills say the site also benefits from existing neighbourhood centres located in the immediate vicinity, along with Omni Shopping Centre in Santry.
Speaking this week, John Swarbrigg of Savills said, "This is an exceptionally well-located site, and given the significant scale on offer, it is ideally suited for both the private and rental market upon completion. Dublin is still very much in a period of undersupply when it comes to residential property – and apartments in particular – therefore we expect strong demand from investors and developers."