Richard Bielenberg of Colliers International is guiding a price of €1.4 million for a 0.61 hectare (1.5 acre) site zoned for residential development on St Agnes Road in Crumlin village, Dublin 12.
The subject site comprises The Glebe House, a substantial detached protected structure that is divided into apartments, all of which are vacant. Behind the house there are 12 workshop buildings, six of which are occupied by tenants on informal lease terms.
The site benefits from 35m of road frontage onto St Agnes Road. The land is level in topography and is broadly regular in shape with clearly defined boundaries. The site falls within the area covered by the Dublin City Development Plan 2016-2022 and is zoned Z1 – “To protect, improve and provide residential amenity”.
Amenities
The area is well serviced by transport links, with a number of direct bus routes to Dublin city centre and the Naas Road. Local amenities include a supermarket, and a range of sports clubs and schools, all of which are to be found in close proximity to Crumlin village.
“This is a fantastic residential development opportunity. The site is located just 4.5km from St Stephen’s Green – a strong selling point for any proposed development,” Richard Bielenberg said.
The site may well be of interest to those developers and investors involved in Dublin’s fast-growing Build-to-Rent (BTR) Sector.
According to the latest research from CBRE, €6.3 billion is now targeting the Irish BTR market – an 18.9 per cent increase on the €5.3 billion recorded last year. Some 32 per cent of this prospective funding is emanating from the US, while Europe and Canada account for 24 per cent and 12 per cent respectively. Ireland, for its part, accounts for 22 per cent of the monies looking to invest in the sector.
