Naas Road site for 371 apartments sold for €12m

By Brendan Grehan

A SITE on the Naas Road with planning permission for 371 apartments has been sold for close to €12 million.

The site at Carriglea Industrial Estate has been sold by Marlet Property Group.

Carriglea Apt artist impression compressor

An artist’s impression of one of the apartments for Carriglea Industrial Estate

Planning permission at the site includes more than 220 two-bed units as well as one and three-bed units in addition to four commercial and community accommodation, including a crèche, gym and residents’ lounge.

Following changes to the planning guidelines which permit higher buildings than applied at the time that Marlet first sought planning permission, it is believed that the site might have capacity for up to 500 units.

Its planning permission included 358 car parking spaces at basement level and one-bed homes with floor areas of about 576 sq ft; two-beds with floor areas of about 915 sq ft; and three-bedroom units extending to 1,140 sq ft.

The land is located about 150 metres from the Bluebell Luas Red Line stop, which facilitates rapid access to the city centre, the IFSC, The Square in Tallaght and Citywest.

The development will also be adjacent to Lansdowne Gate apartments.

Carriglea was originally put on the market by Marlet as part of the “Dublin Living” portfolio which comprised Carriglea, St Clare’s, Mount Argus in Harolds Cross and the former CIE Lands in Cabra.

The portfolio had potential for 1,170 residential units. It was subsequently decided to sell them individually.

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