Investments: An interesting redevelopment opportunity will arise shortly at Earlsfort Terrace in Dublin 2 when a single-storey over basement retail building goes for sale by tender.
Agent Turley Associates is quoting over €3.5 million for the well located property, Earlsfort Lodge, which is just off St Stephen's Green near the junction of Earlsfort Terrace and Leeson Street.
The property has a gross internal area of 180.65sq m (1,944sq ft). There are five tenants paying a rental income of €131,500.
Michael Turley says there is "immense development potential" to build a four or five-storey over basement building on the site.
A previous planning permission for a four-storey over basement block has lapsed.
The property is being sold on behalf of property developer Jim Cobbe who won an architectural award for an infill apartment development he carried out over Harrods car-park at Knightsbridge in London.
Earlsfort Terrace is also a top class location beside the Conrad Hotel and the National Concert Hall. It is also within a five-minute stroll of the Luas station on St Stephen's Green and Grafton Street.
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