News Article

3/7/2007 - TALLAGHT TOWN CENTRE - PRIME DEVELOPMENT OPPORTUNITY
William Harvey & Co., Industrial Property Specialists have been instructed by Burgmann Packings to offer a prime gateway development site For Sale by Tender on Wednesday 4th April 2007 (unless previously sold). Burgmann Packings will re-locate to a new facility but are willing to remain in occupation for up to 18 months at an annual rent of €200,000 (exclusive).

The property is Zoned Objective CT “to protect, improve and provide for the future development of the County Town of Tallaght” under the South Dublin County Council Development Plan 2004 – 2010. However, the development potential of the site was greatly enhanced by the Tallaght Town Centre Local Area Plan 2006. The site is now highlighted as Mixed Use B (up to 70% Residential). Furthermore, it is located in a strategic position where more intensive commercial and residential development may be appropriate. The Local Area Plan envisages that taller gateways could be formed at this particular junction where a new civic square should be provided. It also benefits from a key street frontage in a Gateway position at the end of the planned Airton Road Extension. The Local Area Plan states that “Key Frontages should have a minimal or no setbacks from the street to promote a hard urban edge”.

The Plot Ratio Threshold is 1.5:1 and the Building Height Threshold is 3 storeys. The Local Area Plan does envisage that Gateway Buildings may normally exceed the height threshold for a particular area by a maximum of two storeys.

The phasing of development of this area is indicated as 2008 – 2010.

There have been several developers acquiring substantial holdings over a period of time off market in this area and this is one of the first Gateway development sites to be offered for sale in a public fashion.

The guide price is excess €10 million (exclusive).