THE LAST REMAINING development site on the water at Dublin’s north docklands has gone on sale for €120 million.
The 4.6 acre site comes in either two separate sites or one combined lot.
The residential site has planning permission for two buildings ranging from six to 11 storeys, carrying up to 420 apartments. A crèche, café/restaurant and a retail element is also provided for in the planning.
The commercial side of the site has planning for four 6-8 storey office buildings totalling around 28,000 square metres of office space.
Savills, the agency bringing the sites to market along with Cushman & Wakefield, say that recent revisions to apartment guidelines mean that residential densities could be pushed to between 494 and 526 units, depending on mix and layouts.
However, while the scheme will continue the regeneration of the docklands, one local politician says that the area hasn’t seen the benefits of the massive building and economic developments.
“There was a lot of talk of social housing, but that hasn’t materialised,” says Social Democrat councillor Gary Gannon.
“So, there’s a bit of resentment that’s kind of set in locally. The North Wall as a community already feels surrounded – residents feel like they’re being pushed out in many ways.
“People who have roots there are being forced further and further afield.
“Dublin isn’t a place that feels like you can aspire to raise a family anymore. In the docklands, you see a lot of transient communities working, but they’re not putting down roots. You’d like to see some sense that these developments would benefit the city, but there’s not a lot of planning for the long-term communities here.
“That’s not how a city sustains itself.”
According to the agents, the finished residential scheme will be “well positioned to benefit from the huge weight of equity seeking PRS (private rented sector) stock at aggressive yields in Dublin” while the office scheme provides “an opportunity for a prestigious Waterfront HQ”.
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