Savills has announced that a prime Dublin residential site, dubbed Project Montrose, has gone on the market for €75 mln.
The site, in Donnybrook, Dublin 4, is being sold with a detailed feasability study for a housing scheme designed by O’Mahony Pike Architects.
'This area of Dublin is synonymous with exclusive high quality apartments and period houses, but supply has been limited due to the lack of appropriate development sites,' commented Mark Reynolds, director, Savills Ireland, sole selling agents.
'We see Project Montrose as a once in a generation opportunity to be part of a truly transformative development story in one of Dublin’s most affluent and fashionable areas. For anyone serious about urban development not only in Ireland but in Europe, it doesn’t get better than this,' Reynolds added.
The site comprises 8.64 acres of land owned by Irish national broadcaster, RTÉ (Raidió Teilifís Éireann), and sits adjacent to RTÉ’s broadcasting headquarters at Montrose.
According to Savills, a mid to high-end housing scheme of up to 500 units comprising a mix of apartments and houses could be built, subject to securing planning permission.
'The pent up demand from buyers and renters for quality apartments in prime locations in Dublin 4, coupled with the backdrop of limited competing supply, will ensure a successful sales campaign for the scheme when completed,' concluded Reynolds.
