Having pursued efforts over the past several years to develop both private rented and student accommodation schemes on the site of the well-known Circle K petrol station in Donnybrook, developer Keith Craddock’s Red Rock has decided to sell the property.
Located at the junction of Donnybrook Road and Brookvale Road in Donnybrook village and extending to a total area of 0.32 acres (0.13 hectares), the Dublin 4 site is now being offered to the market by agent JLL at a guide price of €5.5 million.
The property, which is occupied by Circle K under a short-term licence agreement, is zoned Z4 under the Dublin City Development Plan 2022–2028. The site is designated for “Key Urban Villages and Urban Villages”, which permits a range of uses, including residential, hotel, and student accommodation.
The site’s planning history includes previous approval for a 10-storey residential scheme of 67 units. This planning permission is the subject of an ongoing judicial review. Separately, an eight-storey purpose-built student-accommodation (PBSA) project that received planning permission from Dublin City Council was subsequently overturned by An Bord Pleanála.
While efforts by the site’s current owner to develop it have been met with opposition locally, Ollie Lyons of JLL says the property’s planning history provides “a clear roadmap” for accessing its development potential.
He adds: “An additional advantage for buyers is the short-term income stream of €165,000 per annum from Circle K, which can help offset holding costs during the planning phase.” The current licence agreement is extendable to March 2026. Additionally, Circle K has signed a deed of renunciation, waiving any rights to a new tenancy.
Lyons says: “We expect a high level of engagement from prospective buyers given the site’s potential to deliver best-in-class apartments, student accommodation or a hotel, subject to planning. The existing short-term income from Circle K will be particularly attractive to investors and developers alike.”
