Two local properties on market for €10,000,000
TWO prominent local sites – both with development potential – have gone on the market for a sum of almost €10 million.
A site in Clondalkin village, close to The Mill Shopping Centre, has been zoned as a Town Centre and has provisions for residential development.
Mark Forrest, of BNP Paribas Real Estate, is handling the Private Treaty sale and told The Echo that site is an “exciting” prospect for future development.
Town Centre zoning allows for retails units, including major sales outlets, warehouses, offices, petrol-filling stations and restaurants.
Mr Forrest said: “With dual access off the Nangor and Ninth Lock Road, and benefitting from town centre zoning, we believe this site offers an excellent proposition to create an exciting mixed-use development.
“A purchaser may also look to develop part of the site into residential use to mirror a number of adjoining high-density apartment schemes.”
The 5.9 acre site is being sold on the instructions of the receiver Luke Charleton of EY and has a guide price of €3 million.
The well-known Spawell Complex in Templeogue has also been put on the market and is being sold by Dessie Kilkenny and John Swarbrigg of Savills on the instructions of Grant Thornton as Receivers for a guide price of €6.5 million.
The leisure and retail complex is made up of an 18-hole par three golf course, two-storey indoor 48-bay driving range, two squash courts and astro-turf pitches, as well as D’Arcy McGee’s Pub, a Gymboree and shops.
There are currently 12 tenants in the complex with a contracted income
of approximately €604,516 per annum and the area is
zoned Objective F.
There is currently full planning permission on the Spawell site for the construction of a two-storey, over-basement leisure centre, a five-storey 149-bedroom hotel over a basement of 10,204sq.m. and 579 car-parking spaces. The permission was granted in 2010 and recently extended until April 2020.
John Swarbrigg, Associate of Development Land at Savills Ireland, said: “While the existing zoning objective may not be conducive to facilitate any meaningful development at present, the existing planning permission does set a positive precedence, particularly in relation to any leisure-related uses.”
Both sales are expected to move quickly.