PVC King wrote:I think that this strategically located business space opportunity should have detailed project management consultancy undertaken to have a phasing plan produced that can be delivered within a two year period; this is something that should be done across a number of live planning consents.
All of these oppportunites should be actively marketed; occupational demand should decide what gets developed and when it gets developed; this is not just a Dublin thing, outside core markets like Shanghai, Sydney and London the days of safe speculative development with no pre let in place prior to ground being broken are firmly suspended. That however does not mean that well located parcels of land need to rot indefinitely; what could produce a higher return on new investment in a high number of locations?
I take your point that the commercial property market is more cautious and less active than before the global financial crisis but the Tara Street Tower would have significant strengths. It is located in the heart of the city, has excellent transport links, would be built to the highest standards, has large floorplates and has a landmark quality. Moreover if construction began next year, it would be coming to market in 2014/15 when the economy should be a lot stronger domestically and internationally. Therefore there should be demand for such a property at that time and CIÉ would reap a significant profit.