GVA Donal O Buachalla is seeking offers in excess of €5m for a former youth hostel on a prime city centre redevelopment site of approximately 0.267 hectares (0.66 acres) in Dublin 7.
The property is located at 61 Mountjoy Street in Dublin’s north inner city and is positioned on a corner site at the junction of Mountjoy Street (45m frontage) and Wellington Street Upper and Wellington Place, close to Dorset Street Upper, the Mater Hospital and the Technology University Dublin campus at Grangegorman.
The property includes a range of buildings ranging from single to part three storey over basement with a total floor area of approximately 3,450 sq. m. (37,135 sq. ft.) together with an undeveloped site at the rear offering significant re-development potential.
The property is within an area zoned “Z15 - Institutional and Community” in the Dublin City Development Plan 2016 - 2021 which identifies a range of development uses “permitted” and “open for consideration” including residential, medical, hotel, educational, community and institutional. A number of buildings are ‘Protected Structures’, however, have potential for conversion to a variety of uses as part of an overall redevelopment of the site.
A feasibility study has been prepared by Ryan and Lamb Architects illustrating the development potential of the property and includes three potential development option (1) 50 residential units in a PRS format (2) Student accommodation (124 bed space) or (3) 119 Co-Living residential units. The property also has potential for medical related uses having regard to its proximity to the Mater Hospital or possibly budget hotel use.
The property is being sold on behalf of An Óige Irish Youth Hostel Association (IYHA) and was in use for many years as an international hostel with 44 dormitories incorporating 279 bed spaces together with ancillary accommodation.
This is a significant re-development opportunity with potential for a wide range of uses including residential, student accommodation, hostel, hotel or medical related uses having regard to its high-profile inner-city location, convenience and accessibility to the city centre.
The property is being offered for sale by Private Treaty and further details are available from Roger Keogh or Patrick Kirwan.