The sale of the former residence of the Danish ambassador to Ireland is expected to attract significant interest from developers and investors.
Located on Herbert Road in Bray, Co Wicklow, Kilbride House and its 3.6 hectare (9.1 acre) grounds are being brought to the market with the benefit of full planning permission for the development of 42 houses.
Darragh Deasy of CBRE, who is handling the sale on behalf of developer Pat Crean's Marlet Property Group, is guiding a price of between €5.75 million and €6 million for the property.
With the property’s guide price equating to an average cost per house plot of €142,857, the new owner should be in a position to deliver new homes that fall within the affordability threshold based on the Central Bank’s current mortgage lending rules.
Excellent condition
The subject site accommodates the former Danish Embassy, a protected structure which dates back to 1880 and is in excellent condition throughout. The existing planning permission provides for a residential development of 42 houses, including the regeneration and extension of the Gate Lodge facing on to Herbert Road. The 41 new dwellings comprise 17 two-storey, four-bed detached houses, one two-storey, three-bed detached houses, 18 two-storey, three-bed semi-detached homes, and five three-bed, two and a half-storey terraced houses.
The subject site is well located on Herbert Road, in an established and mature residential area, just 2km from Bray Town Centre.
Bray itself offers a wealth of amenities including shops, restaurants and cafes. There are also multiple schools and sports clubs in the surrounding area including Presentation College, Loreto Secondary School, St Andrew’s National School, Wicklow County Cricket Club, Bray Hockey Club and Bray Sailing Club. The Florentine Centre is also currently under construction by developer Paddy McKillen jnr’s Oakmount. Upon completion, the scheme will enhance Bray’s retail offering with a cinema and multiple restaurants.
Opportunity
Bray is well connected by public transport with Bray Dart station providing regular services to Dublin city centre, Howth and Malahide. The N11 is located less than 1km from the property, offering easy access to the M11 and M50 motorways. Dublin city is located 24km north of Bray.
Mr Deasy says: “This site offers the purchaser the opportunity to develop a high-end residential scheme in a highly sought after area of Bray. The completed units will appeal to a wide demographic of purchasers, especially those who are being priced out of the Dublin market.”
