Land for sale in Project Connolly, Oriel Street, Dublin 1Ireland Price on Application
An Unrivalled Development Opportunity
All information is available to view and download from our online Dataroom at: www.projectconnolly.com
Premium Rental bids, by competitive tender, are being sought by Knight Frank on behalf of CIE for a substantial city centre development site which adjoins both Connolly Station and the International Financial Services Centre. The site will be offered by way of a Development Agreement subject to an Annual Site Licence Fee followed by the higher of a Premium Rent or an income sharing arrangement with the preferred bidder. The site represents an unrivalled opportunity to develop a landmark scheme in one of the most central and highly accessible locations in Dublin city centre (S.P.P.).
Connolly Station is the country`s busiest train station catering for approx. 29,755 passengers per day (Rail Review 2016 – NTA). This significant public transport hub directly connects with the Luas enhancing its accessibility. The subject site is well positioned to capitalise from this resource as it links directly into the station providing integrated public transport links for any proposed development of the site.
The site is offered as follows: Site A extends to approx. 4.85 acres (1.963 hectares) and comprises the existing CIE car park, CIE Group buildings and a section of the existing railway sidings. The site is currently accessed from Sheriff Street Lower and benefits from approx. 200 metres of frontage onto this road. Furthermore, the site also benefits from approx. 125 metres of frontage onto Oriel Street Upper and approx. 60 metres onto Oriel Hall. There will also be an option to develop Site B which extends to approx. 2.00 acres (0.809 hectares) and comprises the airspace above the balance of the railway sidings and existing Depot Building.
The redevelopment of the North Docks, has begun in earnest to take off again with such significant developments as Dublin Landings, Point Campus, the Central Bank and the ongoing development of Spencer Dock. The site at Connolly Station is in a prime position to follow this trend. There is an extant planning grant (2863/11 - 10 years) for a significant mixed use development which is live until 2022 on a larger site of which the subject sites form part. That scheme includes 106 apartments, over 540,000 sq.ft. of office accommodation, over 70,000 sq.ft. of retail / restaurant accommodation and a 101 bedroom hotel.
Reddy Architecture has prepared a Feasibility Study which indicates that a substantial scheme of over 665,000 sq.ft. could be achievable subject to securing the relative planning permission with an additional approx. 70,000 sq.ft. over the railway sidings. This would allow for a scheme with a total gross floor area of approx. 735,000 sq.ft.
The entire site is zoned Objective Z5 under the current Development Plan, that is ‘to consolidate and facilitate the development of the central area, and to identify, reinforce, strengthen and protect its civic design character and dignity`. This Objective allows for a wide range of high value uses such as Office, Residential, Hotel, Hostel, Shop (district), Shop (neighbourhood), Shop (major comparison), Restaurant and Car park. Objective Z5 zoned lands have an indicative Plot Ratio of 2.5 – 3.0 under the current Development Plan. Furthermore, the Development Plan identifies the Connolly Station site as one of four areas where 50+ metres building height may be acceptable subject to the provisions of a relevant LAP, SDZ or within the designated strategic development regeneration area (SDRA).
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.