Having been sold to a private investor for just over €5 million in 2018, the landmark Baker’s Corner pub in Kill of the Grange in south Dublin has returned to the market with a guide price of €7 million.
While the property was last sold as a going concern and has been trading since then under the management of the well-known Loyola Group, it is being offered for sale on this occasion by agent CBRE with the benefit of vacant possession and planning permission for a purpose-built student accommodation scheme on its 0.5-hectare (1.235-acre) site.
The approval from An Bord Pleanála provides for 276 bed spaces comprising 38 clusters of six, seven and eight-bedrooms units with associated kitchen/dining/living areas, along with ancillary student-support facilities including a gym, cinema room, meeting room, canteen, communal lounges and breakout spaces.
Also included within the proposed Baker’s Yard scheme are a pub and two ground-floor commercial units located at the northern boundary of the subject site. The student accommodation scheme is laid out over two blocks, rising to five and six storeys in height respectively.
The Bakers’ Corner site occupies a prominent location at the junction of Kill Avenue and Rochestown Avenue in Kill of the Grange in Dun Laoghaire. The area has a significant student population, with some 65,000 students attending third-level institutions within a 9km radius.
The Dun Laoghaire Institute of Art, Design and Technology is situated within a five-minute walk of the subject site, while the UCD Michael Smurfit Graduate School in Blackrock and UCD’s Belfield campus are just a 10 and 15-minute drive away respectively.
The site’s immediate environs offer a range of facilities including a Lidl, SuperValu, Bank of Ireland, Insomnia Coffee Company and Saba.
In terms of public transport, Baker’s Corner is served by a number of Dublin Bus routes including the 46a, 63, 6A, 7B and 7D, with all related stops positioned within 100 metres of the site. The Dart is accessible via Salthill and Monkstown, with road access to the wider Dublin area and beyond via the N11 and the M50.
Peter Garrigan, Head of Development Land & Consultancy at CBRE, says: “This is one of the very few sites with full planning permission for a student-accommodation scheme of significant scale in south Dublin. The combination of the site’s close proximity to UCD and the IADT, and the the current supply-demand imbalance for student accommodation in Dublin, should result in strong interest from a wide range of potential purchasers.”
