The sale of a site with full planning permission for the delivery of 40 homes should prove to be attractive to a range of developers and investors looking to take advantage of the ongoing imbalance between supply and demand in Dublin’s residential property market.
The site, which is located just north of the Blanchardstown Centre in Hollystown, Dublin 15, is being offered to the market by joint agents CBRE and Kelly Walsh at a guide price of €3 million. The subject holding extends to 1.32 hectares (3.26 acres) and comes with approval from An Bord Pleanála for 18 houses and 22 apartments/duplexes, ranging from one-bedroom to four-bedroom units. The approved scheme is made up predominately of two and three-bedroom units ranging in size from 47sq m (506sq ft) to 135sq m (1,453sq ft) (Planning Reference: FW21A/0003 ABP-309833-21).
The subject site is well located at the northern corner of Kilbride Road and R121 Road and in an established residential area in close proximity to the Dublin and Meath border. The Blanchardstown Centre is located about 5.5km south of the subject site. TUD Blanchardstown, the National Aquatic Centre and Connolly Hospital are also all located within driving distance of the subject site.
The location offers ready access to both the M50 and M1 motorways via the regional N2 and N3 roads.
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Peter Garrigan of CBRE’s development land division says: “This is a shovel-ready opportunity to deliver 40 family homes in an expanding suburb of west Dublin. We expect to see strong interest from a range of prospective purchasers due to the balanced unit mix proposed within the scheme and the demand for housing within the site’s immediate locale.”
Garvan Walsh of Kelly Walsh adds: “With the significant capital required and high build costs of apartments now making it uneconomic to build apartments in Dublin city centre, housing sites like this should see continued demand. The new-homes market is trading very well and with a fall in supply now expected in 2023 we will continue to see strong sales values.”
