A NEW residential development of up to 70 apartments could be constructed on a Cork Street site in Dublin 8 which is expected to fetch about 7m when it's sold at public tender on 13 July.
The 0.2 hectare site is the location of McGowan Printing Solutions, which occupies a unit covering 21,000sq m.
The site is zoned Z4 "to provide for and improve mixed services facilities" . . . in the Dublin City Development Plan and would, selling agent, GVA Donal O'Buachalla says, be suited to the development of high-quality apartments.
According to the agent, the site could accommodate in the region of 60 apartments, over four-five storeys, subject to planning permission. Apartments on Cork Street can be expected to fetch up to 310,000 for one-bed units and 375,000 for two-beds.
"There has been a trend in the Cork Street area of owners of small, industrial-type sites selling up to make way for higher value usage, " says Fergal Burke of GVA Donal O'Buachalla.
Cork Street is currently undergoing major rejuvenation with the redevelopment of a number of sites and the development of high density residential and mixed residential/commercial schemes.
Agent: GVA Donal O Buachalla 01-676 2711
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