Howth Development Site Brought to Market Guiding €25m - Construction Network Ireland - Construction Network Ireland

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Published in Construction on 30/05/2018

Howth Development Site Brought to Market Guiding €25m

CNI Editor reports

A substantial waterfront site is on the market this week with Savills appointed as sole selling agents by Joint Receivers Michael McAteer & Paul McCann. Referred to as ‘Project Pier’, offers are being sought in excess of €25 million. This unique offering, which overlooks Howth harbour.

The 6.61-acre sites have planning for two alternative developments – one for 229 apartments and 2,996sq m (32,246sq ft) of retail space, restaurants, a creche and leisure centre. The other option is for 127 apartments, 51 houses together with 2,756sq m (29,663sq ft) of retail and commercial facilities.

The first planning permission was recently extended until 2021 while the second permission is valid until 2023.

Newly launched plcs Glenveagh, Cairn and Marlet will almost certainly chase the Howth site but they might well have competition from Sean McKeon’s MKN company which recently completed a stunning apartment development, Seascape, overlooking the coast in Clontarf.

Swarbrigg, who is handling the sale, admits that as agents they can sometimes be “a little loose” when referring to particular properties as “prime”.

“However,” he says, “ in this instance, it’s certainly not the case. This site really does represent a trophy opportunity and offers a purchaser a platform to deliver something truly special in what is one of Dublin’s most affluent suburban addresses.”