Developers and investors involved in the delivery of apartments for Dublin’s fast-growing build-to-rent market are expected to express an interest in the sale of a site with residential zoning in Fairview, Dublin 3. Agent Robert Colleran is quoting a price of €3 million for the property at 80 Philipsburgh Avenue.
Located at the heart of an established residential neighbourhood within close proximity to Dublin city centre, the site comes with the benefit of 55m of road frontage and comprises a two-storey club house building of 1,006sq m (10,828sq ft) and parking for 50 cars.
The freehold residential zoned (Z1 – sustainable residential neighbourhoods) portion of the site extends to 0.21 hectares (0.52 acres) and could accommodate houses or an infill apartment development of up to 32 units or a small nursing home, subject to planning permission.
A preliminary planning appraisal prepared by Hughes Planning & Development Consultants in advance of the sale suggests the site “has the potential to accommodate a feasible build-to-rent model” in accordance with the policy set down in 2016 by the Department of Housing, Planning and Local Government.
In a circular on the matter, the department said: “Planning authorities are . . . requested to proactively encourage and work with proposers of build-to-rent projects to facilitate their emergence at appropriate locations.
The adjoining 1.4 acres of leasehold land at 80 Philipsburgh Avenue have 64 years remaining on their lease and are currently used by Fairview Pitch and Putt club. The prospective purchaser will have an option to acquire the freehold interest of these lands from Dublin City Council for some ancillary ‘open space/sporting use’ that may benefit the front site, subject to the receipt of the appropriate consent.
The leasehold lands are zoned objective Z9, the primary aim of which is to improve and provide recreational amenity and open space. It is strongly considered that there is a limited number of ‘permissible’ uses which could maximise the potential development of the existing pitch-and-putt course. A detailed planning report is available upon application for both properties.
The subject property is located just 2km north of Dublin city centre, allowing for easy access on foot, by car, or by public transport.
