Major development opportunity on Dublin’s Dawson Street

07 March 2018

On behalf of Bank of Ireland,Savills Ireland has today, 7th March 2018, launched the sale of 9 – 12 Dawson Street, Dublin 2 to the market with a guiding price of €35 million. 


The c.4,461.04 sq m (48,018 sq ft). office building – currently occupied by New Ireland Assurance – is situated in a prime location on one of Dublin’s most iconic streets, and sits in Dublin’s Central Business District adjacent to the city’s main shopping thoroughfare, Grafton Street.


The property is being marketed as a development opportunity and is being sold with vacant possession, with New Ireland Assurance vacating in the summer of this year. According to Savills Ireland, the sale provides an opportunity for a complete redevelopment of the site, suitable for an office & retail development.


This is underpinned by a feasibility study undertaken by Henry J Lyons Architects. Substantial scope to redevelop and extend the existing building to accommodate potentially to 6,219 sq m (66,941 sq ft) NIA – subject to the necessary grant of planning permission is detailed in the feasibility study.


Built in the 1950s and early 1970s, 9 – 12 Dawson Street comprises two office buildings over five and six storeys respectively, in addition to a basement car parking and storage accommodation. The merging of the two buildings over time provided a larger office space to satisfy New Ireland’s changing business requirements.


Mark Reynolds, Director of Development, Agency & Consultancy at Savills Ireland comments:


“We believe the property’s exceptional location coupled with Dublin’s strong economic growth makes No 9 – 12 Dawson Street a highly attractive and unique proposition and represents a prime development opportunity.”


The Dawson Street area has undergone significant change over the past three years, with new office, retail and public transport development to the fore. Molesworth Street – which connects Dawson Street and the political district of Kildare Street – has witness the development of four new office buildings, attracting the likes of Barclays, AIB and to the area.


Restaurateurs and retailers have also piled in, with the world-renowned Ivy restaurant due to open at One Molesworth Street in the coming months, and Specsavers establishing their first flagship Irish store at 40 Molesworth Street.


The arrival of the new LUAS Cross City line has further improved the public transport network in Dublin, and with a stop at the doorstep of 9 – 12 Dawson Street, accessibility to the property is quite simply unrivalled. Moreover, the increase in footfall continues to attract demand from retailers and office occupiers looking for space in the area.


Savills Ireland expect strong interest due to the rarity if such prime core office sites coming to the market in the heart of Dublin city centre.


For further information, please contact:

Andrew Smyth, Head of Communications, Savills Ireland


M: +353 86 122 1551


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Savills Dublin Commercial