€8.4m for Development Land Next to Liffey Valley Shopping Centre - Construction Network Ireland - Construction Network Ireland

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Published in Commercial Property on 25/09/2019

€8.4m for Development Land Next to Liffey Valley Shopping Centre

#savills

CNI Editor reports

7.44 acres of land ripe for development adjacent to Liffey Valley Shopping Centre – one of Ireland’s leading retail destinations – have been placed on the market with a combined value of €8.4m.

Nicky Conneely of Savills is offering interested parties the opportunity to purchase the entire, or in 3 separate lots:

  • Lot 1 (4.24 acres): €4.7 million
  • Lot 2 (1.78 acres): €1.95 million
  • Lot 3 (1.42 acres): €1.75 million

All three lots are zoned Major Retail Centre, with a range of uses permissible, including motor sales outlet, office space, retail warehousing, hotel and garden centre – amongst other uses.

Two of these lots have significant frontage to both the N4 and the internal Liffey Valley thoroughfare. One directly abuts the roundabout at the entrance to the Liffey Valley car parks.

Liffey Valley, and the sites, are located just off the junction of the M50 and N4, approximately 12km west of Dublin City Centre between the well-established suburbs of Lucan and Palmerstown. It is close to the expansive residential suburbs of Castleknock, Clondalkin and Leixlip.

The area has become a significant retail destination in Dublin, easily accessed by car and by Dublin Bus, whom operate 16 routes to and from the area. The shopping centre is one of Dublin’s largest and has recently undergone a significant expansion with the addition of space to provide more retail stores, a large cinema, extra restaurant and café units and most recently four drive through units.

The surrounding suburbs are ever expanding, with the recent development of Adamstown in Lucan and the announcement of the Balgaddy- Clonburris Strategic Development Zone. This SDZ area is due to accommodate approximately 8,500 new homes and up to 21,000 additional population and was formally adopted in June 2019.

There are several established business parks nearby, which are home to some significant employers. Grange Castle Business Park is located 3km from the subject property or less than a five-minute drive. This park is home to Pfizer, Takeda Pharmaceuticals and Cuisine de France. The property is also close to Park West Business Park and Citywest Campus.