A redevelopment site which includes the former Frawley’s department store on Thomas Street, Dublin 8, assembled at the height of the property boom by Liam Carroll’s Danninger company, is to be offered for sale at a much reduced figure of €2,250,000.
DTZ Sherry FitzGerald is handling the sale of the site of 0.31 of a hectare (0.77 of an acre) at the request of David Carson of Deloitte who was appointed receiver by AIB.
The decision to close Frawley’s after 115 years of trading was widely condemned and led to a sharp fall-off in business on Thomas Street.
A new campaign was recently launched to rejuvenate the street which has a large number of empty premises.
The site going for sale, 30 and 32/36 Thomas Street, includes a number of three and four-storey buildings as well as a car park with access from St Catherine’s Lane West.
Part of the ground floor of the property is let to a retail tenant on a short term basis.
Zoning
While the property zoning on the site will allow for a mixed-use development, Danninger secured permission for a five-storey scheme on the entire site to include mainly retail use on the ground floor, a number of own-door office suites with further office and ancillary accommodation overhead.
The permission also included 48 car-parking spaces at basement level.
Peter Lynch of DTZ Sherry FitzGerald said he was confident that the sale would attract a strong level of interest because of the prominent location and the range of uses open for consideration.
