A key redevelopment site of 0.27 hectares (0.67 of an acre) at the junction of Townsend Street and Moss Street in the south Dublin docklands will be of interest to Irish and overseas developers when it is offered for sale later this week.
Wesley Rothwell of agents CBRE is guiding €8 million for the prominent site, which has 62m of frontage on to Townsend Street and 45m on to Moss Street.
It includes a range of properties such as Ned’s Bar on the street corner, Advance Pit Stop and two derelict buildings.
A little known company Two Walk Ltd has spent about eight years assembling the site, which is directly opposite George's Court, a prestigious office complex developed by the Cosgrave Group and now owned by Green REIT.
Plot ratio
Wesley Rothwell estimates the planners may allow a plot ratio of four or five to one and says the site could possibly be used either for a six-storey plus office development of up to 12,000sq m (129,165sq ft) or student accommodation with 350-400 bed spaces.
Trinity College is only one short street away. The site is within five minutes' walk of Tara Street Dart station and less than 10 minutes from Grafton Street.
The property has a mixed-use zoning in the George’s Quay Local Area Plan, which recommends a number of uses including offices, residential and student zoning.
Strong interest
Peter Garrigan
of CBRE says given the shortage of development opportunities in the market, particularly in the docklands, they were expecting strong interest from developers and investors looking for a prime location.
