Ireland: A planning application for a 378-bed coliving scheme in Dublin, which was submitted before a ban on such projects was introduced, has been approved.
The seven-storey scheme on Cork Street in Dublin 8 is now up for sale with a guide price of €25 million, through joint agents Colliers and Cushman & Wakefield.
Designed by architect John Fleming, the permitted scheme also includes a reception area, communal lounge/social room, a multi-purpose room, a private function room, cinema, yoga space, a gym and workspace area, all on the ground floor. There is also a plan for a cafe, which could be separated from the coliving space, as well as 1,336 square metres of additional space on the lower ground floor level, which could provide an opportunity for alternative standalone uses.
Irish housing minister Darragh O’Brien introduced a ban on coliving schemes last year but this scheme will go ahead as its planning application predated the ban’s formal introduction on December 22 2021.
Richard Bielenberg of Colliers said: “The vendor has achieved an excellent planning consent in an area that is perfectly suited to coliving.”
Paul Nalty of Cushman and Wakefield said the scheme has “potential to generate a strong income stream and is designed for maximum efficiency from an operational perspective”.
