Drumcondra site zoned for housing seeking €2m

Agent Avison Young is guiding a price of €2 million for a residential refurbishment and redevelopment opportunity in the north Dublin suburb of Drumcondra.

Located in the long-established residential address of Carberry Road, and next to the grounds of Maryfield College, the subject property comprises two large semidetached family houses with a total floor area of approximately 373.5sq m (4,021sq ft) which are interconnected at ground and attic levels. The property is positioned on a regular-shaped site area of approximately 0.181 hectares (0.448 acres), offering the prospective purchaser significant development potential.

The subject site is located entirely within an area zoned “Z1 – Residential” in the Dublin City Council Development Plan, with a feasibility study drawn up in advance of the sale illustrating its potential to accommodate two additional, large two-/three-storey, four-bedroom semidetached family residences or three, two-/three-storey townhouses.

The existing property alternatively offers the buyer a refurbishment opportunity, with the potential to upgrade the two houses or to reconfigure the existing accommodation for apartment use, subject to planning permission.

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The existing property also offers the purchaser the opportunity to secure short-term rental income in a proven rental-market location. The houses are well located in proximity to both the Marino Institute of Education and Dublin City University’s teacher-training college, the DCU Institute of Education at St Patrick’s Campus in Drumcondra.

The property is situated just 3.5km north of Dublin city centre, and occupies a prime position on Sion Hill, fronting Carberry Road and just off Griffith Avenue (R102) and Drumcondra Road Upper (N1).