Richard Barrett plans luxury scheme on guesthouse site in D4
Bartra’s big plans for former Cedar Lodge guesthouse on Merrion Road
Bartra Capital, the investment management vehicle founded by property developer Richard Barrett, is planning to construct a luxury apartment scheme on Dublin 4’s Merrion Road. Currently, the 98 Merrion Road site comprises an 872sq m guesthouse named Cedar Lodge, which will be demolished as part of Bartra’s plans. If planning permission is granted, the guesthouse is to be replaced with a five-storey over basement apartment building extending to 4,805sq m – more than five times the size of the existing structures on the site.
The proposed development will be made up of 19 apartments, consisting of 3 one-bedroom, 7 two-bedroom, 8 three-bedroom and 1 four-bedroom units. The 27 parking spaces, 20 bicycle spaces and storage areas will be at basement level. The new development will be in good company given its location at the epicentre of Dublin’s luxury apartment market – across the leafy street from 31-33 Merrion Road and in close proximity to Embassy Court, the InterContinental Hotel penthouses, Shrewsbury Square, Rexdon Court and another new block under construction to the rear of 78- 80 Merrion Road.
The guest house last emerged on the open market in 2003 with a €4 million asking price, and was not offered for sale on the open market in 2016 prior to its sale. However it is listed in the property price register as having been purchased for €5.7 million in July of this year – a price which equates to almost €10.5 million per acre for the 0.22 hectare site. Last year Barrett’s former Treasury Holdings’ partner Johnny Ronan bought a 3.7 acre office site on the same road for €67.5 million, which is set to undergo a major redevelopment.
The Merrion Road scheme is Bartra’s first planned development in the Dublin City area, however the company has another development planned in Dalkey. At Bullock Harbour, Bartra has plans to demolish the former Western Marine premises to replace it with three detached and six terraced houses, as well as a café and commercial units.