125 Acre Development Opportunity in North Dublin Guiding €42 million - Construction Network Ireland - Construction Network Ireland

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Published in Construction on 05/06/2019

125 Acre Development Opportunity in North Dublin Guiding €42 million

#savills

CNI Editor reports

On the instruction of Receiver’s Tom O’Brien and Simon Coyle of Mazars, Savills Ireland has brought Project Shoreline to the market, an impressive 125 acre residential development opportunity that offers scale, an attractive coastal location and proximity to Dublin City Centre in a single lot.

Speaking of the development John Swarbrigg, Director at Savills Ireland said Project Shoreline is a unique opportunity to develop a significant residential scheme within an established residential destination. It offers coastal living and excellent connectivity to Dublin City Centre.

Together with Open Space and High Amenity lands, the opportunity extends to approximately 50.76 hectares (125 acres), making it one of the largest residential development opportunities available close to Dublin City Centre.

With an existing planning permission for 546 units and potential to significantly increase density through further planning permissions, this is the perfect opportunity for investors and developers to benefit from short – long term value add potential.

The Sites

The subject sites are situated in Baldoyle, an attractive coastal town in north county Dublin. The property holds a high-profile position, in a well-connected location with an abundance of public transport facilities within the immediate vicinity, including the adjacent Dart Station. The amenity lands will enhance the scheme by providing residents with landscaped parks and walkways, creating a tranquil environment for the whole community.

The development is split into two “growth areas”:

Growth Area 1 (41 acres): Designed by award-winning architects, Henry J. Lyons, this is a contemporary, high-end residential scheme, which has the benefit of a full grant of planning for 546 residential units. In addition, a feasibility study has reported the potential for an uplift in density to 833 units and an opportunity to increase this further STP. The proposed scheme incorporates a new town centre and impressive landscaped gardens.

Growth Area 3 (15 acres): This area is zoned for residential development and a feasibility study has reported the potential for approximately 759 units STP.