Following a growing number of southside investment and development sales in recent months, Savills have now been instructed to place an impressive collection of assets to the open market for sale in the coming weeks.

The property represents a prime investment and redevelopment opportunity (s.p.p) in the heart of Ranelagh Viillage with a range of retail, commercial and residential units on mixed use zoned site of 0.36ha (0.88 acres) approximately. It is currently producing in the region of €250,000 pa on short term tenancies (subj. to change) and is located directly across from Ranelagh’s Luas stop and next to Superquinn.

The property is being offered in 1 or more lots as follows:

Lot 1 – 8 Ranelagh Road

Lot 2 – 14 - 26 Ranelagh Road on 0.8 acres approx.

Lot 3 – 21c Ranelagh Avenue

Lot 4 – The Entire

This impressive property holding which was assembled by the current owners is situated on the east side of Ranelagh Road in the heart of Ranelagh Village. It is positioned immediately opposite the LUAS station offering immediate connectivity with St. Stephen’s Green, Dundrum and the other south Dublin suburbs. The property contains a collection of retail, commercial and residential properties on a site area of approximately 0.36 hectares (0.88 acres), which is being offered for sale in a number of lots.

Lot1 comprises No.8 Ranelagh Road, a mid-terraced building of approx. 109 sq m with space to rear. It comprises retail/ commercial space at ground level with overhead levels above and is located directly across from Ranelagh Luas stop. It is currently vacant, in need of refurbishment and provides excellent potential for retail use at ground floor with commercial/ residential overhead (subject to planning consent).

Lot 2, the main lot on offer, comprises a high profile terrace of 5 buildings from 14 – 26 Ranelagh Road ranging in height up 3/ 4 storeys. This block which enjoys a very high profile position next to Superquinn and across from the Luas. It mainly comprises retail/ commercial uses at ground level with rented residential/ commercial space at upper levels. The majority of the residential units are currently leased on mainly short term tenancies and there is additional vacant space which will provide additional revenue. The buildings include a mix of buildings including pre-63’s and more modern extensions and residential mews buildings to the rear. At present these properties are producing an income in the region of €250,000 however a higher ERV should be quite achievable if the vacant space if occupied. This property also includes exceptional development potential given the carpark/ yard space to the rear which is accessed through the arch at no. 22 which was known as Ralelagh Village Market. This access is not unlike the access to the adjoining Superquinn. This property backs onto Ranelagh’s Garden Park.

Given the overall site area of 0.8 acres approx. including buildings and the attractive Z4 Mixed Services zoning, the property undoubtedly represents a fantastic opportunity to develop a mixed-use scheme in one of Dublin’s most sought after residential suburban locations (subject to the necessary planning consent).

Lot 3 comprises 21c Ranelagh Avenue, a mid-terraced 2 storey 2 bedroom house which extends to approximately 45 sq m. It is accessed from Ranelagh Avenue and is located close to AIB and Superquinn. It is subject to a residential tenancy currently producing €10,800 pa.

Jonathan Preston, Head of Development in Savills comments that despite the economic turmoil in recent years, Ranelagh has still continued to develop with recent projects like the new Bank of Ireland, Tesco Express and the current redevelopment of the former Jason’s of Ranelagh block at the Triangle with Lidl due to open its doors very soon. The subject property offers a one-off opportunity to develop a mixed-use scheme in one of Dublin’s most sought after village locations on the Luas. It also has the added benefit of substantial rental income in the region of €250,000 in the short term with room for further income enhancement.

An official asking price has not yet been released however it is anticipated that given the opportunities presented by this property, it will certainly be likely to be excess €3 million. It is also possible that a bid process may ultimately take place given the property’s profile.