CATHAL DAUGHTON of agent Lisney is quoting €1.1 million but is “open to offers” for a retail and office redevelopment site at Tara Street, Dublin 2. The seven buildings on the western side of Tara Street running from Poolbeg Street to Burgh Quay were assembled during the boom years by a consortium headed by developer Paddy Kelly. Funding for the acquisition of the site of 0.048 of a hectare (0.12 of an acre) was provided by Bank of Scotland (Ireland).

Some of the six shops have reopened on a short term basis while an adjoining office building has been rented mainly by Griffith College. The portfolio is producing rental income of around €80,000.

The site has obvious long-term development potential largely because it is opposite the busy Tara Street Dart station. CIÉ has indicated in the past that it might develop a high-rise office block over the station.

The Kelly consortium also proposed developing a seven-storey mixed retail and office scheme on its site but did not lodge a planning application when it had control of the site.