The 0.31 acres at 3-8 Charlemont Street is part of a potentially much larger redevelopment area of over seven acres near the Luas in Dublin 2, writes Jack Fagan

Several Dublin developers are expected to be in competition to put together one of the largest redevelopment sites remaining in Dublin 2.

More than seven acres on a triangular site between the Barge pub, Charlemont Street, Harcourt Road and South Richmond Street are set to be redeveloped for a mix of offices, apartments and shops in the next few years.

Though parts of the area have been in decline for many years - some of the buildings have been boarded up for a long period - it remains an extremely busy area, particularly South Richmond Street which runs from Kelly's Corner over the Grand Canal to Rathmines.

First to show his hand has been Conor Kenny of the aggressive Clancourt Group who recently paid around €26 million for what is known as "The Gym" site, a plot of three-quarters of an acre of rundown buildings at South Richmond Street as well as the Gym site at the rear.

Businessman Ray Kearns, founder of the Institute of Education, had assembled the site over many years before selling it through Michael Harrington of agent HWBC. That is by no means the end of the matter for Kearns who still owns an adjoining site of at least half an acre, including the George Bernard Shaw pub which is rented out on a short lease.

The play for overall control of the area will move ahead in the coming weeks when most of the frontage on to Charlemont Street goes for sale.

Dublin City Council has already invited proposals for the redevelopment of the Tom Kelly flats complex on a five-acre site, and today agent Kelly Walsh is announcing the forthcoming sale of 3-8 Charlemont Street which extends to 0.31 of an acre behind the site bought by Clancourt.

That company will have to dig deep to buy the second - and crucial - part of its site because of competition from a number of developers, probably including Sean Reilly who completed the large office development on the opposite side of Charlemont Street.

Garvan Walsh of Kelly Walsh is guiding over €16 million for what is a key part of the overall site with extensive frontage on to Charlemont Street. It is due to be sold at tender on December 6th.

Two of the houses on the site, used as a hostel, have been listed for preservation. Otherwise the buildings on the site have a Z4 zoning to "provide for and improve mixed services facilities" under the Dublin city development plan.

With Dublin City Council likely to prefer a developer owning adjoining land, there will undoubtedly be considerable competition in the coming weeks to buy the various landbanks in order to clinch a deal with the city council.

The council has stipulated that the successful developer will be obliged to hand back about 150 social and affordable housing units in part exchange for a large section of the five acres.

There is also speculation that the Charlemont Clinic may also eventually form part of what will be one of the most interesting redevelopment sites in the city.