€7.35m for Cookstown site with plans for 196 apartments

By William O'Connor

A development site in Cookstown Industrial with full planning permission in place for 196 Build-to-Rent (BTR) apartment units has gone on the market with a guide price of €7.35m.

The site in question is located at the Springfield/Ambervale end of Cookstown close to the Luas stop.

The Avenue Cookstown Aerial 1

The site in Cookstown Industrial Estate close to Springfield

The selling agent CBRE and Dillon Marshall Property Consultants have been jointly instructed to offer a “ready to-go” BTR development site in Cookstown.

The site itself extends to approx. 0.59 hectares (1.47 acres) and is currently occupied by an industrial facility.

The site benefits from full planning permission for a modern Build-to-Rent apartment scheme providing for 196 apartment units in total, with a mix of studios, one beds and two beds.

The permitted development is made up of four- six-nine storey blocks over basement, looking directly on to the Luas line.

There is provision within the permitted development for residential amenity space, as is common with modern apartment schemes, as well as several commercial units at ground floor to provide for a gym, creche and retail/café unit.

15099 view from Cookstown Way and Second Avanue intersection 002 1

An artist impression of the development

There are a total of 67 car parking spaces provided at basement level for the entire development, with limited parking required given the connectivity the site benefits from.

Darragh Deasy, Senior Surveyor, Development & Consultancy, Dublin, told The Echo: “The Avenue at Cookstown offers interested parties the opportunity to acquire a “ready to go” development site with full planning permission for a modern BTR scheme, situated directly on the Luas line and within walking distance of Tallaght Hospital and with excellent connectivity.

“The residential sector has proven to be extremely resilient during the pandemic and we expect to see considerable interest in The Avenue from a range of developers and investors”.

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