A ready-to-go redevelopment site for a substantial new office complex at Arkle Road in Sandyford Industrial Estate, Dublin 18, is expected to be of interest to a number of Irish and overseas investment and development companies when it goes for sale from Wednesday.
Agents Knight Frank, quoting in excess of €6.5 million for the development opportunity, says that the pent-up demand for grade-A office space in the city centre has already had a knock-on effect in Sandyford.
The 1.66-acre site, which also has significant frontage on to Blackburn Avenue, currently accommodates a 1980s development of 2,490 sq m (26,802 s q ft) of offices and industrial space, which will inevitably be demolished to make way for a grade-A office scheme.
The vendors are particularly pleased with a newly obtained planning permission which provides for the demolition of the existing buildings and their replacement by a KMD Architecture-designed six-storey-over-basement office development with a gross floor area of 20,264 sq m (218,120 sq ft). The plans envisage three office blocks with independent access from Blackthorn Avenue. Block A will also include a cafe/restaurant of 153 sq m (1,647 sq ft) on the ground floor, with access on to Arkle Road. There will be parking for 167 cars at basement level.
The planning permission also provides for deep floor plates, allowing significant flexibility to an incoming occupier in terms of layout. Additionally, with a generous floor-to-ceiling height of three metres, the accommodation will provide more comfortable space for occupants.
Last June, Knight Frank secured €10 million for a site of just over four acres at the entrance to Sandyford Industrial Estate. The same site, though slightly larger, was sold during the property boom in 2006 for €110 million.
Evan Lonergan of Knight Frank says that, given the exceptional grant of permission for 3 Arkle Road and surrounding occupiers such as Microsoft, Salesforce and Vodafone, it is expecting strong interest from developers and owner-occupiers looking for a high-profile location with superb transport links.
