Investors looking to take advantage of the strong demand for residential rental accommodation in the capital will be interested in the sale of numbers 49 and 50 Ranelagh Road in Dublin 6.
Located within walking distance of both Ranelagh village and the Charlemont Street approach to the city centre, the property comprises 16 vacant en-suite guest rooms and studios along with a commercial premises and is being offered to the market by agent QRE at a guide price of €3.75 million.
The subject property extends to a total gross floor area of 920sq m (9,900sq ft) and occupies a site area of 0.095 hectares (0.235 acres).
An established physiotherapy clinic practises from the hall and first floor of the front section of the property and has recently agreed terms, albeit subject to signing, for a new long-term lease. This tenant is unaffected by the sale of the property.
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To the rear of the property there is a large, double-storey extension to the original building, containing the 16 vacant en-suite guest rooms/studios, all of which are equipped with their own WC and shower. There are also several ancillary rooms, which the selling agent says could possibly be converted into additional guest rooms or studios rooms. The property is not a protected structure, which provides the opportunity for refurbishment and or redevelopment subject to planning permission.
Rear access is via Orchard Lane, and it has a spacious rear yard with surface car parking for up to 10 vehicles.
Bryan Garry and Harry Byrne of QRE Real Estate Advisers say: “This sale is likely to attract significant interest given the opportunity for an incoming owner to add urgently needed residential units to the rental market at a time of heightened demand.”
