Sunday 15 September 2019

Section of Gardiner Street terrace is sold to local property owner

Gardiner Street
Gardiner Street
Donal Buckley

Donal Buckley

A group of four Dublin city centre commercial properties have recently been sold reflecting the increased interest in the commercial property hinterland around O'Connell Street. Located at 63 - 66 Gardiner Street Lower Dublin 1, they comprise four adjoining terraced Georgian properties for which CBRE had been inviting offers of €4.5m.

The purchaser knows the local market well as he is a Dublin-based investor who owns existing properties on Gardiner Street.

The four are located between the Talbot Street junction and the Dart loop line bridge.

Extending to about 1,020 sq m, the four-storey over-basement buildings have recently been refurbished. Agent John Hughes of CBRE says they also offer significant redevelopment potential.

To the rear of the property, which is accessible via Moland Place, there is parking for 30 cars.

Architects have suggested that the site, subject to planning permission, could accommodate a 31-unit hotel or aparthotel.

Hospitality businesses have been a feature of both the street itself and nearby streets for more than a century as they are close to Connolly railway station and the ferries.

In more recent years they also cater for passengers wishing to be near Busáras and Croke Park.

Luas red and green lines also pass nearby at Store Street and Marlboro Street. The area has also benefited from urban renewal projects including student accommodation developments.

One of the last sales on the street was in September 2017 when a premises at 31-35 Middle Gardiner Street, Dublin 1 sold at a BidX1 auction for €2,331,000. It comprised 10 one-bedroom and five two-bedroom apartments.

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