The sale of a ‘shovel-ready’ residential site in south Dublin is expected to see strong interest from developers and investors involved in the city’s private rented sector market.
The site, known as Walkinstown House, comprising a 0.93 (2.3 acre) brownfield plot, comes with full planning permission for a 163-unit apartment scheme along with residential amenities that include a gym, meeting rooms and lounges.
The approved development also provides for the construction of a café and creche and 56 car parking spaces. The site is being offered for sale through agent Cushman & Wakefield at a guide price of €9 million.
The extant planning permission comprises a mixture of apartments, including one studio unit, 59 one-bed apartments, 96 two-beds and seven three-beds. The scheme’s 56 car parking spaces will be located at podium level, providing the purchaser with a significant cost saving compared to underground car parking.
The subject site is well located in Walkinstown, which is just 6 km south west of Dublin city centre. An abundance of amenities and transport links serve the property.
Several Dublin Bus routes operate within the immediate vicinity, while the Kylemore Luas stop is located just a 15-minute walk from the property. The site also has easy access to the M50 motorway, which is located less than 2 km away.
Paul Nalty of Cushman & Wakefield says: “This site offers purchasers the chance to acquire a prime residential development opportunity in a proven location. Given the ongoing dysfunction within the planning system and the onerous nature of certain development plans, Walkinstown House should see strong interest from a range of developers and investors.”
