Lansdowne Partnership is guiding a price of €1.2 million for a residential development opportunity at numbers 11 and 13 Lower Grand Canal Street in Dublin city centre.
Located at the heart of the area now commonly referred to as “Googletown”, the subject property is expected to attract interest from investors and developers looking to capitalise on the demand for residential accommodation in the area.
While the site is occupied currently by two terraced houses positioned on a plot of 170sq m (1,830sq ft), there is full planning permission for internal and external alterations, and the construction of a two-storey over-basement rear extension covering a total area of 138sq m (1,485sq ft) to both dwellings.
The site is zoned ‘Z2’ under the Dublin City Council Development Plan 2016-2022, allowing for a change of the existing planning permission to a larger-scale scheme.
Paul Aherne, who is handling the sale, says the property’s existing planning permission offers the purchaser the opportunity to secure a rental yield of between 6 nd 7 per cent.
Number 11 has been cleared back to the front façade for safety purposes and initial building works have been carried out, while number 13 is currently in office use but could easily be reconfigured.
The accommodation briefly comprises an entrance hallway, office, return with access to the rear, stairs to the basement to include a kitchen, w.c. and under stairs porch with access to the front. On the first floor there is a dual-aspect open-plan office.
The subject property is located in close proximity to the European headquarters of a number of global technology companies including Google, Stripe, Facebook and AirbnB.
Lower Grand Canal Street is a highly convenient location providing ready access to the city centre which is a few minutes’ walk away.
