Developers and investors looking to take advantage of the growing demand among corporate occupiers for best-in-class office space may be interested in a development opportunity that has come to the market in Dublin’s core central business district.
Located less than 400 metres from Grafton Street, numbers 10 and 11 Harcourt Street are being offered for sale by Richard Bielenberg of Colliers with full planning permission from An Bord Pleanála for a new three-storey over-basement office scheme extending to a gross internal area of 2,888sq m (31,086sq ft). The existing buildings, which extend to Montague Lane, are guiding at a price of €7.5 million.
Numbers 10 and 11 currently comprise a pair of four-storey over-basement Georgian buildings. The ground floor of number 11 is in retail use while the ground floor of number 10 is in restaurant use. The upper floors of both buildings are in office and residential use. The pair of buildings measure 817.4sq m (8,799sq ft) based on a net internal area.
Numbers 10 and 11 extend to the rear to a pair of industrial buildings on Montague Lane. These structures are arranged over three floors and have a gross internal floor area of 1,090sq m (11,732sq ft).
The entire site measures about 0.0765 hectares (0.19 acres) and is zoned as a combination of Z5 and Z8. The purpose of the first of these designations is “to consolidate and facilitate the development of the central area, and to identify, reinforce, strengthen and protect its civic design, character and dignity”. The aim of the latter designation meanwhile is “to protect the existing architectural and civic design character, and to allow only for limited expansion consistent with the conservation objective”.
Planning permission has been granted for the full demolition of the existing warehouse structure at 10/11 Montague Lane and the construction of a new three-storey over-basement office scheme.
