Gardiner Street buildings with hotel potential for €4m

An investment with obvious redevelopment potential in Dublin city centre is on the market at more than €4 million through CBRE.

The property, currently in office use, is composed of 63-66 Gardiner Street Lower, Dublin 1 which has substantial car-parking to the rear with access via Moland Place. Chris Ryan Architects & Designers suggests that this site, subject to planning permission, could accommodate a 31-unit hotel/aparthotel.

This sale is available in two lots or in its entirety. Number 63, a four-storey over basement period building extending to 2,860sq ft, is partly let at €30,000 per annum and is guiding more than €1 million. Numbers 64-66 are partly let at a rent of about €160,000 per annum, extend to 759sq m (8,170sq ft) and are quoting more than €3 million.

The agent says the properties have recently been refurbished and the redevelopment potential in the large yard provides an opportunity to exploit the strength of Dublin’s booming tourist market.