Top Terenure site on the market for €2.9m
Another leading motor showroom goes on the market in Dublin today as a result of the difficult trading conditions in the industry.
Lisney is seeking €2.9 million for the extensive premises of Rathdown Motors in Terenure, Dublin 6, which closed down earlier this month after more than 25 years in business.
The site extends to 0.23 of a hectare (0.57 of an acre) and fronts on to Templeogue Road, Terenure Place and Terenure Road West.
The complex, used until recently as a main Hyundai dealership, includes a number of showrooms, offices and other outbuildings, as well as an extensive forecourt area.
Lisney says while the premises may continue to trade as a motor showroom, alternative uses could include a mixed commercial and residential development, a petrol-filling station with ancillary services, a fast-food outlet or neighbourhood facilities including shops, a convenience store and restaurants.
Cathal Dalton of Lisney says given the renewed interest in well-located development sites in the city there is a strong possibility the Terenure property could be bought by an investor or developer interested in embarking on a comprehensive redevelopment and availing of a short-term income stream while awaiting planning consent.
A previous planning study suggested the site would be ideal for about 30 residential units and a number of shops.
Elsewhere in Terenure village, the two German discounters Lidl and Aldi have each acquired sites for convenience stores, while Tesco has also found a premises for a grocery outlet. The opening of these businesses is expected to lead to a spin-off of increased business for existing Terenure traders.
Should Lisney fail to find a buyer for Rathdown Motors, the agency will then consider letting the premises at a rent of €95,000 per annum.
The agency is also to let another site, used by Rathdown Motors as a service yard and car-rental depot, on Terenure Road East. It can accommodate 220 cars.
Mark Turley, who set up Rathdown Motors in 1986, blamed the closure on the weak market conditions for new cars and the fact that heavy discounting in the second-hand market was further exacerbating the situation.