DTZ Sherry FitzGerald is quoting €650,000 for a ready-to-go mixed-use infill site of 0.14 acres at 61-61 Thomas Street, Dublin 8.
The property comprises two adjoining mid-terrace buildings which are multi-let on short-term letting agreements. There is 15m of frontage to Thomas Street, close to its intersection with Vicar Street.
Planning permission exists to demolish the buildings on site for a five-storey over basement building with the top floor set back.
The basement is to accommodate 15 car-parking spaces together with storage facilities and bicycle parking. Access, via a car lift, would be from the rear of the site.
Over the basement the planning permission allows for a retail unit at ground floor levels and office accommodation overhead. An extension of this permission was granted on June 25th, 2014.
Under the Dublin City Development Plan 2011-2017, the property is zoned Objective Z5 to “consolidate and facilitate the development of the central area, and to identify, reinforce, strengthen and protect its civic design character and dignity”.
This zoning provides for intensive mixed-use development and the redevelopment of central areas. A wide range of uses are permitted in principle and open for consideration under this land use zoning objective including residential, retail and offices, subject to planning permission.
Colette Mulroy of DTZ Sherry FitzGerald says the property has "clear development potential for alternative uses/schemes subject to planning permission".
