Published Date: 17/09/2018
The landmark Hickeys site at Parkgate Street in Dublin 8 has been sold for more than €30m, the Sunday Independent can reveal.
The figure represents a premium of 50pc on the €20m price agent Finnegan Menton had been guiding when they offered it for sale in an 'off market' placing last May.
Based on the site's 1.65 acres (0.67 hectares) area, the €30m equates to a price of just under €18.2m per acre.
Located next to Heuston Station, the site has been in use by Hickeys as its wholesale warehouse for 40 years. The property could accommodate a number of uses including residential, hotel, or a landmark office.
The Dublin City development plan identifies the Heuston Station area as a Strategic Development Regeneration Area (SDRA), and offers the potential for buildings of more than 16 storeys (50m).
A number of major developments have taken place in the area in recent years including Heuston South Quarter, the new Criminal Courts of Justice and Kennedy Wilson's Clancy Quay Private Rented Sector (PRS) scheme at Islandbridge. Diageo (Guinness) has also confirmed plans to develop a mixed-use scheme known as St James's Quarter on 12.6 acres at St James's Gate.