Investors looking for a combination of secure State-backed income and a development opportunity in a strong location may be interested in the sale of 11 St Agnes Road in Crumlin, Dublin 12.
The subject property, which is currently in use as a logistics facility by the State’s postal service provider, An Post, is being offered to the market by agent TWM at a guide price of €4 million. As part of the deal, An Post will enter into a licence agreement with the purchaser on a short-term basis at market-level terms while the party in question seeks to secure planning permission to enhance the value of the asset.
"We have a fundamental misunderstanding of our housing need."
The property currently comprises a single-storey building with a service yard which extends to 805sq m (8,670sq ft). The building sits on a site of 0.18 hectares (0.44 acres) and is zoned Z4 District Centre under the current Dublin City Development Plan. It is proposed to change this designation to Key Urban Village under the terms of the new plan, covering the period from 2022 to 2028. This would allow for a variety of residential or commercial uses.
Number 11 St Agnes Road is well located at the junction with Windmill Road. St Agnes Road acts as the main thoroughfare for Crumlin village, and sits in close proximity to a range of amenities including Ashleaf Shopping Centre, Our Lady of Hope primary school and Crumlin GAA Club. Crumlin is well served by Dublin Bus with easy access to Dublin city centre, just 4.5km away.
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Stephen Aherne and Seán O’Neill of TWM say: “This is an exciting and rare opportunity to acquire secure rental income from a blue-chip tenant, combined with an excellent redevelopment opportunity in an attractive location in close proximity to Dublin city. We expect the property to attract strong interest from investors and developers alike.”
