Prices in D16 are up 3pc on a year ago but any house with a high energy rating is in very high demand indeed, says agent Carole Ross of Sherry FitzGerald.
Developer Gerry Gannon has completed the sale of the Paper Mill site in Clonskeagh, Dublin 6 to Bain Capital, an American-owned private investment firm which has been involved in a number of property developments in Dublin.
Sales agents Knight Frank had been quoting €18m to €20m for the site and it is believed to have achieved slightly over the €18m mark. CBRE acted for the purchaser.
State agency Nama will benefit from the deal as it had a charge on the site.
The 3.14-acre site has planning permission for 126 apartments in blocks rising to four storeys and the deal also included 10 existing terraced period houses on Clonskeagh Road with full planning permission for their refurbishment. Planning permission on the site includes 25 one-bedroom apartments, 98 two-beds and three mews/penthouse units.