25 February 2010

On the instructions of the liquidator, John P Carlin, FCA, and Hannay Waste & Recycling Ireland Limited (In Voluntary Liquidation), Savills reports that the former recycling facility at Bannow Road, Cabra, Dublin 7 is for sale by Private Treaty.

The site occupies a prominent position along the Maynooth / Connolly train line and the Broombridge/Bannow Road junction. The property comprises approx. 7,555 sq.m. of industrial and office accommodation on a total site area of approx 3.32 hectares (8.2 acres).

The location benefits from its close proximity to Dublin City Centre and the N2 / M50 junction which provides rapid motorway access to all of the main arterial routes from Dublin, to Dublin Airport and the Dublin Port Tunnel. The site is adjacent to Dublin Industrial Estate & Broombridge train station.
Under the current Dublin City Development Plan, the site is zoned under objective Z6, “to provide for the creation and protection of enterprise and facilitate opportunities for employment creation”. In the draft Dublin City Development Plan 2011/2017, the site is zoned under objective Z10A, “to consolidate and facilitate the development of inner city and inner suburban sites for mixed use development of which offices, retail and residential would be the dominant uses”. This proposed zoning appears to be more flexible from a re-development perspective with a lesser emphasis on employment creation.

The property comprises a roughly rectangular shaped site incorporating two main structures – the main warehouse and a detached single storey office building. To the rear of the site, there is a large hard standing area for vehicle parking as well as an undeveloped area of land. The site is secured by steel palisade fencing and concrete block walls on all boundaries.

According to Gavin Butler, of the sole selling agent, Savills, “this site represents fantastic value for owner occupiers and developers alike. The buildings are ideal for occupiers looking for warehouse accommodation with generous loading and circulation space close to the city centre and M50 whilst the site offers developers excellent medium term potential for re-development (subject to planning permission). At the peak of the market, this type of property may have fetched up to €20,000,000!” Savills are marketing the property for sale by private treaty at a guide price of €4.25 million.

For further information please contact: Gavin Butler, Savills,Tel:01 6181340;
e: gavin.butler@savills.ie

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