Monday 21 January 2019

Prime residential sites on offer in city's Ranelagh and Castleknock

An aerial view of the site at Annesley Park in Ranelagh
An aerial view of the site at Annesley Park in Ranelagh

Ronald Quinlan, Commercial Property Editor

Agent Finnegan Menton expects to see strong interest from developers and investor developers for two prime residential development sites in Dublin's Ranelagh and Castleknock which it has just brought to the market.

In the first instance, Iain Finnegan is seeking offers in excess of €4.9m for what he terms as "truly exceptional" 1.18 acre (0.48 hectare) site located just 500 metres from Ranelagh village.

The site, which has remained undeveloped to date, includes No 1 Annesley Park, a four-bedroom, end-of-terrace, red brick residence with a side garden. The garden offers the prospective purchaser the opportunity to widen the existing laneway entrance to the site which is Zoned Objective Z1 Residential.

A feasibility study prepared by Lawrence & Long Architects shows a number of potential options for the development of the property.

An artist’s impression of the proposed apartments at the Brady’s Castleknock Inn site
An artist’s impression of the proposed apartments at the Brady’s Castleknock Inn site

These include a scheme of 20 semi-detached and terraced houses or a low-rise scheme for 45 apartments.

The elongated shape of the site lends itself well to the construction of a single row of houses all of which would have south-facing rear gardens. The property has been in the same family since 1944 and was most recently Deignan Bros Wholesalers.

Prior to that, it is understood that the property was once a bakery and prior to that an egg-packaging plant.

The subject site is between Annesley Park and Killeen Road, both of which are lined with the red-bricked houses that are synonymous with Ranelagh, a location Finnegan which describes as a "proven selling area".

The site is around the corner from a parade of shops on Dunville Avenue including Mortons Food Store, and Helen Turkington Interior Designer, and just 300 metres from the Luas stop at Beechwood.

Glen Burrell of Finnegan Menton, meanwhile, is quoting a price of €2.85m for a 'ready-to-go' residential development site in Castleknock.

Extending to an area of 0.8 acres, the land at Brady's Castleknock Inn has full planning permission for 36 apartments.

The site is located on the Old Navan Road, which was part of the Navan Road before the M50 was built.

The road is now a cul-de-sac which terminates at the Royal Canal and beside the Twelfth Lock Boutique Hotel and Restaurant. The property is located within 600 metres of Castleknock train station and within 200 metres of the Royal Canal. The Old Navan Road is just off the N3 at the M50/Blanchardstown Junction. There is pedestrian access across the M50 while a tunnel connects with Castleknock Lawn Tennis Club toward Auburn Avenue and Castleknock Village.

Brady's Castleknock Inn is a two-storey, over-basement public house and a landmark in the area.

The location is within a 15-minute walk of Blanchardstown Shopping Centre, the Phoenix Park and the centre of Castleknock Village.

Full planning permission was granted in 2017 for a scheme of apartments designed by Lawrence & Long Architects.

The planning granted by Fingal County Council was for 41 units originally but was later reduced by An Bord Pleanala to the current permission for 36 two and three-bedroom apartments and penthouses with basement parking for 69 cars, 50 bicycles and a number of basement storage units.

Burrell says: "This site should be of interest to any developer seeking a ready-to-go site and to investor developers seeking to develop and hold it as a multi-family investment."

Sunday Independent

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