With demand for housing approaching what are arguably unprecedented levels, the sale by developer Gerry Gannon’s Gannon Properties of a substantial ‘shovel ready’ site at Clongriffin in north Dublin will be keenly watched.
Extending across a total area of 29 acres, the lands are located immediately adjacent to Clongriffin train station and come with full planning permission for 1,937 apartments and 22,278sq m (239,798sq ft) of commercial space.
Agent Savills is understood to be readying the property for sale with a view to bringing it to the market in the coming weeks. While a spokesman for the selling agent declined to comment on the matter, the lands are likely to command a guide price in the region of €50 million.
According to the terms of the planning permission obtained in 2019, the approved scheme provides for the development of a mix of Build-to-Rent, owner-occupier and social and affordable units across 15 blocks. The majority of the permitted scheme, or around 1,130 units, will be aimed towards the private rented sector (PRS) market.
The original masterplan for the wider 53-hectare Clongriffin site in 2003 provided for 3,600 residential units. The subject site represents part of the final development proposals for Clongriffin which is located 9.5km to the north-east of Dublin city centre.
The lands are expected to see significant interest from developers and investors given their shovel-ready status. The site’s readiness is reflected by the fact that the bulk of its infrastructure is already in place including roads, a rail station, water and drainage, as well as social and community facilities.