Brennanstown Site Brought to the Market Guiding €35m - Construction Network Ireland - Construction Network Ireland

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Published in Construction on 19/09/2018

Brennanstown Site Brought to the Market Guiding €35m

#CBRE

CNI Editor reports

CBRE are launching to the market by way of Private Treaty, on the instruction of Declan McDonald of PWC, a substantial residential development site of approx. 29.4 acres, situated within close proximity to the affluent south Dublin suburbs of Cabinteely & Foxrock.

“Brennanstown”, which is available in one or more lots, is situated off the Brennanstown Road, one of Dublin’s premier postal addresses. The site benefits from extensive frontage on to the Brennanstown Road and extends as far south as the Luas Green line at Laughanstown. The site, which is predominately situated within the Cherrywood SDZ, is largely undeveloped and contains five existing residential units.

The surrounding area enjoys a wealth of amenities, with Foxrock and Cabinteely villages offering restaurants, café’s, bars and retail facilities, while Dunnes Stores is located a short drive away in Cornelscourt. Cabinteely Park, spanning over 110 acres in size, is just a stone’s throw away and offers local residents the opportunity to indulge in peaceful walks among the lush greenery. Kilbogget Park, found on the opposite side of the N11, offers multiple playing pitches, catering for rugby, soccer and gaelic sports. UCD, Ireland’s largest university campus, is located approx. 15 min away via car while there are multiple secondary and national schools in the local area.

The site is strategically located roughly equidistant between the N11 & M50, offering easy access to Dublin City, Dublin Airport and multiple major arterial routes. The Luas, with stops located at Laughanstown, Brides Glen and Cherrywood provides convenient & regular services to major employment hubs such as Sandyford Business Park & Dublin Docklands, as well as Dundrum Shopping Centre & St. Stephen’s Green.

CBRE are offering the asset for sale in one or more lots. Lot 1 “Druid’s Glen” comprises of approx. 8.8 acres of residential development land & 11.1 acres of forestry land, while Lot 2 “Lehaunstown”, comprises of approx. 9.5 acres of residential development land, with a small portion zoned for town centre use under the Cherrywood SDZ. Lot 3, comprising the entire, extends to approx. 29.4 acres, with development potential for excess 400 residential units and approximately 600 sq m of commercial space. A report detailing the zoning status and planning potential has been prepared by John Spain & Associates and is available to interested parties.

With PRS developments becoming more prominent in the Irish market, coupled with the increasing demand for housing, this site offers the potential purchaser the opportunity to capitalize on both prevailing markets. Lot 1 allows for a lower density residential development which will appeal to a wide demographic of buyers, including trader-downers and expanding families. Lot 2 allows for higher density residential development, and given the commercial element required under the SDZ masterplan and the close proximity to the Laughanstown Luas stop, is ideally positioned to accommodate a PRS development.