Case Study
Charlemont Quarter, Dublin 2
Land Sale
Address
Hambleden House
19-26 Pembroke Street Lower
Dublin 2
D02 WV96
Ireland
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Phone: +353 (1) 6477900
Fax: +353 (1) 6477901
Email: info@bannon.ie
The Task
The property comprised a city centre infill site with full planning permission in place for a scheme of 19 no. apartments. The Vendor advanced the site through the planning process over many years and successfully received a grant of planning permission from An Bord Pleanala for the optimum scale of development. At this point the Vendor wished to dispose of the property with Bannon appointed as the sole selling agent.
The Skills
Following a number of successive interest rates hikes since the Summer of 2022 the development Land market throughout Dublin experienced a significant drop-off in demand from developers/purchasers. Bannon undertook a comprehensive marketing campaign which focused on the ‘ready to go’ nature of the site and the value enhancement factors specific to the property such as the absence of basement level, potential for added units (s.p.p) and the ability to qualify for the Governments development contribution waiver scheme. Our interactions with potential purchasers focused on those with a proven track record and existing funding in place to conclude the sale in a timely manner.
The Result
At the conclusion of the marketing campaign a formal bidding process was undertaken in order to select a preferred bidder and enter into a period of exclusivity. The transaction was ultimately completed in a timeframe of approx. 3 months from the commencement of the marketing campaign which exceeded the Clients’ initial expectations.