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Sale Agreed

Property Detail

Sale Agreed

Price: On application
Location: Nos. 23,24 & 29 Parkgate Street, Dublin 8, Ireland close to Heuston Station & Red Luas Line
BER: B3/E1
Description: Prime City Centre Investment/Development Opportunity c. 0.31ha / 0.77 acres

Existing buildings : 15,975 sq.ft. (1,484 sq.m.) & 80 car spaces

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Nos. 23, 24 & 29 Parkgate Street, Dublin 8 D08 WF6W

Description

A strategic site presenting a development opportunity suiting a wide variety of uses in a rapidly changing Dublin city centre location. The site area extends to c.0.31 hectare (c.0.77 acres)  currently comprising a motor showroom facility with ancillary offices and workshop, two storey office building and forecourt at 23/24 Parkgate Street together with two tire car-park to the rear linking the property to 29 Parkgate Street which briefly comprises a two-storey retail shop. 

 

The motor showroom facility including the forecourt provides frontage of c.44.5m (144 feet) onto Parkgate Street with a second entrance and frontage of c. 10m (33 feet) at No. 29 Parkgate Street giving access to the rear car park which has capacity for in excess of 70 cars.

 

Location:

The subject property occupies a high-profile position directly across from Heuston Station on Parkgate Street between its junctions with Benburb Street/Wolfe Tone Quay and Infirmary Road.  The surrounding area is steeped in culture, with the Museum of Modern Art, National Museum of Ireland, Kilmainham Gaol Museum, Royal Hospital Kilmainham, Guinness Store House and Phoenix Park all located within walking distance of the property. Phoenix Park is home to Aras an Uachtarain and Dublin Zoo, and hosts multiple events throughout the year.

 

Local amenities include shops, restaurants and some renowned Public Houses Nancy Hands and FXB Ryans all on Parkgate Street.

 

The property is well serviced by public transport facilities, with the Luas at Heuston Station providing ease of access to the city centre, with the cross-city Luas providing connectivity to Dundrum and beyond. There are several bus routes providing links to Dublin City and the surrounding area.

 

The site is located in an area which is undergoing a significant regeneration with Diageo (Guinness) plans to develop 12.6 acres of its St. James Gate Property in a major new rejuvenation project known as the St. James Quarter. In addition, the landmark Hickeys site located across the road is due for development to comprise a mix of residential and commercial.

 

Accommodation

Approx. Gross Internal Floor Areas:

23/24 Parkgate Street                                            

Motor Facility (Ground Floor) – Vacant                        1,019.6 sq.m.   10,975 sq.ft.

First Floor – Vacant                                                            151.9 sq.m.      1,635 sq.ft.

Office Building (2 Storey) - Vacant                                   116.10 sq.m.     1,250 sq.ft.

 

29 Parkgate Street                          

Ground Floor - Vacant                       120.8 sq.m.           1,300 sq.ft.

First Floor - Vacant                                75.7 sq.m.             815 sq.ft.

Total                                                   1,484.10 sq.m.      15,975 sq.ft.

 

Sale Highlights

Prime City Centre Development Opportunity

Approx. 0.77 acres

Zoned Z5 to suit Residential, Hotel, Office, Aparthotel, Student Accommodation

Excellent tourist attractions close by including Phoenix Park, Guinness Storehouse Royal Kilmainham Hospital

Heuston Station located directly opposite the property

Vacant possession available of the entire from 1st October 2022

Benefit of short-term income c. €153,900 per annum (gross)

Previously let with benefit of short term income of c.€153,900 p.a. ERV c.€200,000 p.a.

 

Town Planning

The site is zoned Objective Z5 City Centre under the Dublin City Development Plan 2016 - 2022. This zoning provides for a wide range of uses being permitted in principle including residential, hotel, Aparthotel, retail, offices and Motor showrooms to name but a few.

 

Services

We understand that all mains services are available to the property. However, interested parties are advised to satisfy themselves as to the presence, adequacy and availability of all services.

 

Title

We understand the property is held Freehold. 

 

Vacant possession can be provided to the entire.  Short term income available from a license on the car park if preferred.  

 

BER

BER Rating B3/E1

 

VAT

We understand VAT is not payable on the sale of the property.

 

VIEWING

Viewings are to be arranged strictly by appointment through Finnegan Menton.

 

Contact: Nicholas Corson or Mark McCormack on 01 614 7900 or ncorson@finneganmenton.ie; mmccormack@finneganmenton.ie