Lisney is seeking “best and final offers” by February 10th for a ready-to-go residential site in Arbour Hill, Dublin 7 that was “sale agreed” at €2.7 million early last year but the transaction was subsequently postponed.
The delay was a result of the vendors obtaining registration of the title with the Property Registration Authority.
This has now taken place and the successful bidder will be asked to sign a contract within a week from February 10th with a view to close the transaction shortly afterwards.
Planning permission
The one-acre site has planning permission, which expires in August 2016, for 25 two- and three-bed houses behind the Aisling Hotel.
It is close to Heuston Station, Collins Barracks, Parkgate Street and the Luas Red Line service.
The houses and 25 surface car-parking spaces are designed in a courtyard setting to appeal both to families wanting to live in the city and to investors looking to cash in on the rental boom.
Average floor areas of the houses are around 95sq m (1,023sq ft) to a design by Stephen Collins of architects Collins Maher Martin which aims to comfortably accommodate the scheme among the surrounding artisan streetscapes.
The site, which first came on the market in September 2014 at €2.9 million, has been in the same ownership for more than 50 years.
It had been used for many years as a merchant’s timber yard.
Dilapidated and disused buildings on the site will have to be demolished to make way for the new housing development.
However, the site in this convenient location is still likely to attract interest from a broad range of developers, construction companies and investors.
