While the Dublin hotel market continues to perform relatively strongly, Galway-based businessman John Sweeney’s Sea Strand Properties will be hoping that the even stronger growth in investor appetite for student accommodation will see a buyer emerge for the site of the well-known Top petrol station on Amiens Street.
Having failed to secure a sale of the 0.4-acre property at a price of €12 million in 2022, when it had full planning in place for a 177-bedroom hotel, Sweeney’s company sought and secured approval earlier this year from Dublin City Council for a 246-bed-space purpose-built student accommodation (PBSA) scheme on the site. The property has now returned to the market and is guiding at a price of €11.5 million through agent Knight Frank.
Located within walking distance of the campuses of both Trinity College Dublin and TUD, the approved scheme comprises a building ranging in height from six to nine storeys over a lower ground floor. The bed spaces comprise 204 single bedrooms (including 13 universally accessible bedrooms) within 27 cluster model units, and 21 twin studio units incorporating 42 bed spaces, all with en suites and shared kitchen/living/dining areas. Internal communal amenity spaces and services are provided for at lower ground and ground floor levels (including study areas, gym, cinema room, communal/games area, laundry and storage areas, management offices and stores/service areas).
The development will also feature 486sq m of landscaped outdoor amenity space including a rooftop terrace, and 275 secure cycle parking spaces. A cafe is provided for at ground floor level fronting onto Amiens Street. The grant also allows for the scheme to be used for short-term tourist or visitor accommodation outside of academic term times. The site falls under the Dublin City Council Development Plan 2022-2028, under which the entire site is zoned Objective Z5.
RM Block
The site is highly accessible, situated near the IFSC, the Convention Centre Dublin (CCD), Croke Park, 3 Arena, O’Connell Street and the Bord Gáis Energy Theatre. It is also close to Connolly rail and Dart station, Busáras central station, the Luas Red Line and numerous Dublin Bus routes.
Full details of the sale are available on the dataroom, which can be found at: www.amiens-street.com
