Agent QRE Real Estate Advisers is guiding a price of €2.25 million for a significant residential investment opportunity in Ranelagh, Dublin 6.
Number 47 Ranelagh Road is a substantial redbrick three-storey building extending to 334sq m (3,600sq ft). Located on an infill site of 0.12 hectares (0.3 acres), the property has, until recently been in use as a creche and offices.
Prior to that, the building was a family home and retains a number of original features such as coving and cornices. The property is not a protected structure however, and would be suited to a range of uses including a private residence, embassy or private rented sector (PRS) scheme.
Situated beside the Luas green line at Ranelagh, the site benefits from “Z2” zoning, the objective of which is “to protect and/or improve the amenities of residential conservation areas”.
A feasibility study prepared by Reddy Architecture Urbanism in advance of the sale indicates that the site has the potential to accommodate 17 residential units incorporating the original building and a new five-storey structure to the rear.
Ellen Prenderville of QRE says she expects to see a strong level of interest from investors and developers in the Ranelagh Road property given its location and development potential.