The sale of Project Vista comprises the prominent Merrion House office building and adjoining lands in Dublin 4.
Merrion House extends to approx. 8,036 sq m (86,493 sq ft) over three floors and benefits from a generous 201 surface car parking space on an overall site area of approx. 1.18 ha (2.92 acres).
Merrion House is currently occupied in part by Jacobs Engineering with vacant possession of the entire building due in January 2024.
Project Vista is positioned in an unrivalled location with uninterrupted views of Dublin Bay and approx. 170 metres of frontage to the Merrion Road. The site benefits from excellent transport connectivity with the Sydney Parade DART station located 975 meters to the north, and Booterstown DART station 650 meters to the south offering ready access to Dublin City Centre which is approximately 4.5 km north of the property. Accessibility will be further enhanced with the introduction of the vastly improved BusConnects service with bus stops to be located directly adjacent to the property.
This unique opportunity is expected to appeal to a wide range of buyers from residential and commercial developers to investors and owner-occupiers alike. An office retrofit would offer the opportunity to maximise the energy efficiency of the building, and further to this, the versatility of the building offers the potential for conversion for a variety of alternative uses such as medical, education, hotel or residential accommodation to name but a few. The immediate location has become a hub for medical and research establishments in recent times with the ever-expanding presence of St. Vincent's University Hospital and Blackrock Clinic. The recent news of the national Maternity Hospital's plans to relocate to the grounds of St. Vincent's Hospital suggests that this location is very well positioned for medical and associated research facilities.
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O'Mahony Pike Architects have devised three distinct feasibility scenarios that emphasise the flexibility of the site. These include two scenarios that give consideration to retaining the existing structure of Merrion House and delivering a comprehensive redevelopment of the remainder of the site and a third scenario that considers the full redevelopment of the site.
The first scenario formed the basis of pre-planning discussions with the council and allows for up to 222 no. apartments on the lands of the existing surface car park.
The second scenario sets out various refurbishment and retrofit options for Merrion House along with development of the adjacent carpark area to deliver up to 150 no. residential units.
The third scenario outlines the potential to redevelop the entire site to deliver up to 305 no. residential units and approx. 110,000 sq ft GIA commercial space.
With a Dublin 4 postcode, unrivalled panoramic sea views of Dublin Bay and city centre access, Project Vista would exceed all expectations as a destination for residential. The quantum of residential development either existing or under construction in the area also underpins the potential of the commercial element of the site which would likely attract interest from office, retail – convenience, medical, education and leisure sectors.
According to the joint selling agents: "Merrion House is not just a landmark office property, the additional site area provides a canvas for significant potential. Its strategic location and unrivalled sea views make it a nexus for opportunities across various sectors."
