With the application and approval process for residential planning permission filled increasingly with uncertainty, the sale of a site with full approval for 26 apartments in the much sought-after Dublin 6 area should see strong interest from developers and investors.
Located immediately beside Rathmines Garda station and directly opposite the Circle K petrol station, the subject property is being offered to the market by agent Knight Frank at a guide price of €3 million.
The site itself extends to 0.32 acres (0.13 hectares) and is occupied currently by two vacant dwellings. Number 189 has been extended to the rear and divided into five self-contained flats while number 190 consists of a single residential unit.
There is full planning permission in place (Dublin City Council planning ref. 3381/20) for the demolition of all existing buildings and the construction of a new three to five-storey apartment building comprising 26 apartments (two studios, 13 one-bed and 11 two-bed units) with communal roof garden amenity space at third-floor level. Significantly, there is no basement required under the granted permission.
The subject site falls under the Dublin city development plan 2016 - 2022 and is zoned Objective Z1: Sustainable Residential Neighbours “To protect, provide and improve residential amenities.”
The property has a prominent location within Rathmines, and is surrounded by a wide range of cafés, restaurants, boutique and artisan shops including Elephant and Castle, Farmer Browns, Manifesto, Hush, Sprezzatura and the Stella Cinema. The amenities of Ranelagh, Rathgar, Harold’s Cross, Milltown and Dublin city centre are all within walking distance.
The local and surrounding area is also home to a number of Dublin’s best schools including Gonzaga College, Alexandra College, Muckross College, St Mary’s College, The High School, Sandford Park and Rathgar Junior School. UCD, Trinity College and TU Dublin universities are also within easy reach. The property is well served by numerous Dublin Bus routes along Rathgar Road and Rathmines, with the green line Luas accessible at nearby Ranelagh.
Knight Frank say: ‘This is a prime residential development opportunity in one of the most sought-after residential areas of Dublin. The vast number of amenities in Rathmines and surrounding neighbourhoods, in addition to the city centre being within walking distance, make it ideal for either a build-to-sell or build-to-rent scheme for the proposed apartment block.”