Citywest offices offer development potential

The standalone property at 3300 Lake Drive

The standalone property at 3300 Lake Drive

thumbnail: The standalone property at 3300 Lake Drive
thumbnail: The standalone property at 3300 Lake Drive
Donal Buckley

A vacant office building with redevelopment potential has come to the market in Citywest, Dublin and agents Cushman & Wakefield are guiding €5m for it. The standalone property at 3300 Lake Drive sits on a large site of about 1.01 hectares (2.49 acres) and comes with an ancillary workshop.

Designed as a detached H-shaped two-storey office, this shape would facilitate the letting of its 3,023 sqm (32,544 sqft) to as many as six tenants, according to Marc Kelly of Cushmans.

It includes self-contained and open-plan offices, boardrooms, meeting rooms and a reception area.

The site’s triangular shape includes surface parking for 96 cars and an enclosed yard space and benefits from frontage onto both Lake Drive Road and Citywest Road.

The office block’s vacant possession also enhances its development appeal for investors. At the same time, its office fit-out would appeal to owner-occupiers seeking office accommodation. It’s understood that it is being sold by a private Irish investor.

Referring to its redevelopment potential, Mr Kelly says the property falls under the South Dublin County Development Plan 2022–2028, specifically Objective EE, which aims to support enterprise and employment-related uses.

The standalone property at 3300 Lake Drive

Furthermore, it is understood that there has been some discussion among property owners in the campus as to whether more ought to be done when planning for redevelopment of the low-rise office properties in Citywest considering the strong demand for both residential and logistics buildings.

In recent times there have been a number of residential developments in the Citywest area thanks not only to its Luas links to the city centre, but also its shopping centre.

Originally developed by Davy Hickey, Citywest Business Campus enjoys a strategic location near the N82 and the N7 with the latter’s links to key arterial routes and onwards to Waterford, Cork, and Limerick. Additionally, Dublin’s M50 orbital motorway is just a short drive away and the property is conveniently close to public transport links, including the Luas red line stop situated in Citywest.

Citywest Business Campus forms a satellite suburban centre in south-west Dublin approximately 15km south-west of Dublin city centre. It is 2km north-east of Saggart, 4km north-east of Rathcoole and 5km north-west of Tallaght.