Developers and investors involved in the delivery and provision of accommodation in Dublin’s private rented sector will be interested in the opportunity presented by the sale of a 0.09-hectare (0.21-acre) site on Hanover Lane in Dublin city centre.
Located near St Patrick’s Cathedral and the adjoining St Patrick’s Park and within a 20-minute walk of St Stephen’s Green, the subject property, which is bounded by 11 and 32 Hanover Lane, currently comprises a vacant brownfield site and comes for sale with full planning permission for the development of 24 apartments.
The property is being offered to the market by agent Knight Frank on behalf of the owner, a private investor, at a guide price of €1.5 million.
The planning permission allows for the construction of an apartment building ranging in height from three to four storeys over a partially in situ basement.
The approved scheme would comprise eight studio apartments, 14 one-bed apartments and two two-bed apartments, along with communal resident amenity and storage space. The proposed development is exempt from the obligation to provide Part V units to Dublin City Council.
Robert Wilson, who is handling the sale on behalf of Knight Frank, says: “This is an exceptional development offering investors and developers a ready-to-deliver residential project in one of Dublin’s most vibrant and connected districts. There is a dearth of well-located sites with planning permission in place being offered for sale at present. Given this site’s prime location and lot size, we expect to see strong interest in the sale.”