Three Dublin properties offer development potential

ESB is selling 37-42 James Place East in Dublin, a 0.385 acre office property between Baggot Street and Mount Street Upper

Donal Buckley

April 29 2021 02:30 AM

Three Dublin development properties have come to the market this week: an office site off Baggot Street and two sites in Knocklyon and Phibsborough with residential prospects.

ESB is selling 37-42 James Place East, a 0.385 acre office property between Baggot Street and Mount Street Upper for which JLL is asking €7.5m.

A feasibility study indicates it has potential for almost 40,000 sq ft of office space in a five-storey over-basement office building with underground parking.

The site currently accommodates a two-storey office building totalling 12,291 sq ft and ESB has agreed to continue to rent this for at least six months after the close of the sale.

Meanwhile, agent Vincent Finnegan Commercial is offering two residential development sites in Knocklyon in south Dublin for sale in one lot with a €2m asking price, down from the €2.75m which had been guided earlier this year.

South Dublin County Council is the vendor of the sites which are located at Castlefield Avenue and Old Knocklyon Avenue, Dublin 16. Extending to 0.986 acres and 0.949 acres, the sites are separated by Old Knocklyon Road which ends at the site and could be integrated as the access road into any new development.

As the zoning is RES “to protect and/or improve residential amenity”, this facilitates its residential potential. In addition, some commercial development could be considered under this zoning.

Small sections of both sites closest to the M50 are subject to wayleave allowing the state agency Irish Water to access these areas which could be designed as part of the open space for any planning application.

Another agent, Bagnall Doyle MacMahon, is quoting €450,000 for an infill residential development site of 0.11 acres at 61 Royal Canal Bank, Phibsborough. This will be sold on the Offr auction platform on 19 May, 2021. Rectangular shaped, the site is situated just off North Circular Road and parallel with Phibsborough Road. It has vehicular access from Berkeley Road and is close to Blessington Street Park with its feature lake.

There is a lapsed planning permission for two, three-bedroom basement duplexes and five two-bedroom apartments and five car spaces in a four-storey over-basement development.