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€35,000,000 for 9.60 Acres on Griffith Avenue

16/11/2019
€35,000,000 for 9.60 Acres on Griffith Avenue 
A significant residential development opportunity on Griffith Avenue in Drumcondra is being brought to the market through agents Cushman & Wakefield. The guide price for the asset is €35,000,000.

 This superb landholding of approx. 3.88 ha (9.60 acre) is primely located on Griffith Avenue, in close proximity to Glasnevin, Drumcondra and Dublin City University (DCU). The self-contained greenfield lands benefit from approx. 150 m of frontage onto the prestigious Griffith Avenue, one of Dublin’s most established leafy thoroughfares. Not only known as one of north Dublin’s premier addresses, its strategic position so close to both Dublin city centre and Dublin Airport safeguard the appeal of any future residential development. It is estimated that the site has the capacity for approx. 600 residential units, subject to planning permission. A development of this scale will allow for a Strategic Housing Development Application to be made directly to An Bord Pleanala.

 The lands are being offered for sale by DCU, in a market buoyed by ever increasing requirement for high density residential development in such well-serviced locations. A sale of the lands will expedite the delivery of high-quality residential development. Its purchaser will be attracted by the variety of delivery options and exit strategies, with the completed development certain to be keenly pursued by private home buyers and large PRS funds.   

Cushman & Wakefield predict considerable demand for the asset, given its prime location and the opportunity to deliver a prestigious residential development of considerable scale, which will represent a trophy asset in any portfolio. 

Further details are available from John Donegan and Kevin Leonard, Cushman & Wakefield 01 639 9300. 

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