Agent Hooke & MacDonald has completed the sale of all four commercial units at the neighbourhood centre at the Phoenix Park Racecourse residential scheme in Castleknock, Dublin 15. The four units, which were offered to the market in February last year with guides ranging from €250,000 to €325,000 (plus VAT) have all been acquired by owner-occupiers for above their quoting prices. Multiple underbidders are understood to have competed for each unit.
The new occupiers are KB Coffee (cafe), The Hair Room (hair salon), creche (due to commence fit-out), and a veterinary practice (due to commence fit-out).
Developed by Flynn & O’Flaherty, the Phoenix Park Racecourse scheme currently comprises more than 850 residential properties, with this number expected to reach 1,000. Future plans for the area will see this number rise further to a total of more than 2,000 residential units, which will provide a significant customer base for businesses within the neighbourhood centre.
Outside of serving the needs of residents, the units at the neighbourhood centre are accessible to visitors via the Castleknock Road and Navan Road. Existing retailers within the development include a Londis convenience store, Nazoo Skin and Beauty and the Phoenix Park Pharmacy.
Commenting on the sale of the Phoenix Park Racecourse units, Conor Steen of Hooke & MacDonald said: “This sale highlights the strength of demand for well-located, high-quality neighbourhood retail space. Owner-occupiers continue to recognise the long-term value of securing premises in established residential communities with strong growth prospects.”
