€1.8m for Parkgate Street site in Dublin 8

A well-located redevelopment site opposite Heuston Station on Parkgate Street in Dublin 8 is expected to attract considerable attention when it is offered for sale from today by private treaty.

Tim Scannell of Lambert Smith Hampton is seeking in excess of €1.8 million for the 0.31 of a hectare (0.77 of an acre) at 23/24 and 29 Parkgate Street, which previously traded as Gowan Motors and a CIÉ transport depot.

The complex includes the motor showrooms as well as a workshop, two-storey office building and forecourt at 23/24 together with an extensive two-tier car park to the rear with a capacity for holding more than 70 cars. The site also includes a self-contained two-storey retail building. Only the motor showrooms and ground floor retail unit are currently in use and yielding a rental income of €67,500.

The site has a high profile on Parkgate Street where there is constant traffic, some of it generated by not only Heuston Station but also the Phoenix Park, the Guinness Brewery and the new Criminal Courts.

Under the current Dublin City Development Plan, the site has a fairly liberal zoning – “to consolidate and facilitate the development of the central area, and to identify, reinforce, strengthen and protect its civic design character and dignity”.

This zoning favours a mixed-use redevelopment with a wide range of uses being permitted in principle or open for consideration including residential, retail, offices and car trading.