Agent Robert Colleran is guiding €1.8 million for a well-located infill site in Blanchardstown, Dublin 15 with full planning permission for the development of a new commercial building.
The Deanstown House site is zoned “town and district centre” and comes with approval from Fingal County Council for a 1,570sq m (16,900sq ft) mixed-use, three-storey over basement property. The current planning permission includes retail at ground floor and office use above. The selling agent says there could be potential to extend the existing space by another floor subject to planning permission.
The property adjoins the local Ulster Bank branch premises and a two-storey mixed-use development, which has been fully rented out by Molloy Estates to a mix of commercial tenants including solicitor’s offices, Abrakebabra, Park Pilates and the Dublin Roast restaurant.
When developed, the Deanstown House site will have more than 28m of retail frontage facing Blanchardstown’s main street. Access to off-street car parking is available immediately adjacent to the site. Blanchardstown town centre also offers free on-street parking.
Based on current rental levels in the adjoining commercial property, the Deanstown House development offers the prospective purchaser an estimated annual rental value of between €370,000 and €400,000 once it is built out and fully let.
