Moves to develop Knockmitten House into hostel
AN APPLICATION for temporary planning permission for five years has been lodged for an office property known as Knockmitten House on Knockmitten Lane in Walkinstown.
The plans seek to change the existing three-storey office building to hostel accommodation, with provision of 15 bicycle-parking spaces and all necessary ancillary works.
The office space sold for €916,000 at an online auction in November 2020, attracting 25 bids, which saw the price for property soar well over the initial guide price of €650,000.
The property is arranged over ground and two upper floors – surrounding occupiers include Centrepoint Business Park, DHL Supply Chain and Nolan Kitchens.
The total floor area of the property extends to approximately 852 sq m and it has a net initial yield of 9.09 per cent.
At the time of auction, the property was described as a “prime office and logistics location”, with the benefit of strong transport link, including the nearby M50, Red Line Luas and numerous bus routes.
