Dublin City Council’s stated ambition to repurpose well-located and well-connected industrial lands in the capital for residential use is expected to spur the interest of developers and investors in a 4.1 hectare (10.13 acre) brownfield site which has been brought to the market on Jamestown Road in Finglas.
Located in close proximity to Charlestown Shopping Centre, the M50 motorway and Dublin Airport, the site has the potential to accommodate more than 600 new homes and is being offered for sale by agent Cushman & Wakefield at a guide price of €6.5 million.
Occupied formerly by the Mouldpro factory, the land is currently zoned “Z6 – Employment/Enterprise” and lists residential use as “open for consideration”, according to the Dublin City Development Plan. To illustrate the site’s potential as a residential development, a feasibility study showing capacity for 605 apartment units has been prepared by the vendor. A development of this scale would allow for a fast-track planning application to be made directly to An Bord Pleanála under the terms of the Strategic Housing Development (SHD) scheme.
Opportunity
John Donegan and Paul Nalty, of Cushman & Wakefield’s development land division, say the sale of the site will either serve to expedite the delivery of a high-quality residential development or offer an opportunity to deliver a new mixed-use scheme of scale. The lands are located within an area already populated by a range of successful commercial occupiers and established residential developments.
Donegan and Nalty believe purchasers will be attracted by the site’s variety of delivery options and exit strategies, and expect end user demand to be competitive for any completed development. The site’s close proximity to both Dublin city centre and Dublin Airport is expected to encourage further interest in the property.
