CBRE Ireland make this Residential Zoned Land Tax (RZLT) Submission to South Dublin County Council (SDCC / Council) on behalf of Onyx Ireland 2022 Propco I Limited, 1-2 Victoria Buildings, Haddington Road, Dublin 4 (Client).
Onyx Ireland 2022 Propco I Limited (Client / Landowner), which is one of several ‘Onyx Ireland’ property company entities led locally by M7 Real Estate Ireland Limited as a property investment and asset management company that specialises in commercial and industrial properties.
This Submission relates to our Clients lands at Unit 81A&B, Cookstown Industrial Estate, Tallaght, Dublin 24; Folio DN170303F (subject site) (see Appendix A of the attached Submission).
This Submission has been prepared with consideration for the Council’s ‘RZLT – Annual Draft Map’ and the 'Residential Zoned Land Tax – Guidelines for Planning Authorities' (June 2022).
As per requirements, we confirm that the following are included in this Submission:
- Name and address of the Subject Site and Landowner (stated above).
- Reasons for the Exclusion of the Lands from the ‘RZLT - Annual Draft Map’ (detailed in the attached Submission).
- A Map of the subject site at scale 1:1,000 (urban area) (see Appendix B of the attached Submission).
This Submission affirms our professional opinion that the subject site should be excluded from the ‘RZLT – Annual Draft Map’ due to:
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The Landowner actively marketing the industrial property and seeking a new tenant:
- Currently in legals with Uisce Éireann, with agreed and instructed Heads of Terms in place; and
- Lease terms currently being discussed with an alternative occupier, i.e., Greyhound Recycling Group [Note: Confirmation of same available upon request].
- The recent refurbishment of the property, including inter alia a full strip out and upgrade of the internal shell and core, and the replacement of the asbestos roof with new, high-quality Kingspan 100mm insulated roof panels; with the works not only serving the future occupants of the property, but also highlighting the Landowner's commitment to the continued use of this asset for the foreseeable future.
- Both the Council and An Bord Pleanála have identified significant deficiencies in essential infrastructure, such as water supply, wastewater sewerage networks, and road networks, making residential development on the subject site premature to the delivery of said infrastructure.
- Payment of Rates by the Landowner / Occupier to the Council up to and including 2023.
Therefore, we respectfully request that the Council acknowledges the subject sites’ exemption and subsequently excludes it from the ‘RZLT – Annual Draft Map’.
We respectfully request that the Council acknowledges the subject sites’ exemption and subsequently excludes it from the ‘RZLT – Annual Draft Map’.
The attached Submission affirms our professional opinion that the subject site should be excluded from the ‘RZLT – Annual Draft Map’ due to:
1. The Landowner actively marketing the industrial property and seeking a new tenant:
-Currently in legals with Uisce Éireann, with agreed and instructed Heads of Terms in place; and
-Lease terms currently being discussed with an alternative occupier, i.e., Greyhound Recycling Group [Note: Confirmation of same available upon request].
2. The recent refurbishment of the property, including inter alia a full strip out and upgrade of the internal shell and core, and the replacement of the asbestos roof with new, high-quality Kingspan 100mm insulated roof panels; with the works not only serving the future occupants of the property, but also highlighting the Landowner's commitment to the continued use of this asset for the foreseeable future.
3. Both the Council and An Bord Pleanála have identified significant deficiencies in essential infrastructure, such as water supply, wastewater sewerage networks, and road networks, making residential development on the subject site premature to the delivery of said infrastructure.
4. Payment of Rates by the Landowner / Occupier to the Council up to and including 2023.