A mixed use development opportunity at the heart of Cherrywood Town Centre in South Dublin has been brought to the market by joint selling agents CBRE and Savills, with a guide price of €40m.
The site is located within the Cherrywood Strategic Development Zone (SDZ) and extends to about 8.65 acres.
Cherrywood comprises a 388-acre master planned urban district, with physical and social infrastructure already delivered and a projected population of more than 35,000 residents upon full completion.
The lands put up for sale are positioned at the core of Cherrywood Town Centre and are designated Town Centre (TC) within the SDZ Planning Scheme.
A detailed architect-led feasibility study, prepared by architects Henry J Lyons & Allford Hall Monaghan Morris, showss the potential to deliver a major, high-density, mixed-use scheme anchored by more than 600 apartments, along with about 30,000 sq m of retail, leisure and complementary uses – subject to planning.
John Swarbrigg, Development, Agency & Consultancy at Savills, said that Cherrywood has evolved significantly over the last number of years, having gone from an exciting suburban development concept, to a highly sought after and established residential destination.
“The subject property offers a buyer the ability to capitalise on this sustained residential demand, as well as presenting an opportunity to deliver the long-awaited town centre, comprising a mix of retail and leisure accommodation, which is expected to be anchored by one of the country’s leading grocery retailers,” he added.
Peter Garrigan, Development Land & Consultancy at CBRE Ireland, said that opportunities of this scale and quality within an established Strategic Development Zone are exceptionally rare.
“Cherrywood Town Centre is already functioning as the commercial and social hub of a fully serviced new urban district, and the underlying feasibility clearly demonstrates the capacity for a high density, residential led scheme that aligns with national housing and compact growth objectives,” he stated.