189-190 Rathgar Road: Prime Residential Development Opportunity with F.P.P.
Knight Frank are delighted to introduce to the market 189-190 Rathgar Road; a prime residential development opportunity with full planning permission for 26 apartments at a guide price in excess of €3 million exclusive.
The subject property extends to approximately 0.32 acres (0.13 hectares) and currently comprises two dwellings, both of which are currently vacant. No. 189 has been extended to the rear and divided into 5 self-contained flats and no. 190 consists of a single residential unit.
The site is prominently located in Rathmines, adjoining the Rathmines Garda Station and directly opposite the Circle K petrol station. The enviable location benefits from some of Dublin’s best cafés, restaurants, boutique and artisan shops such as Elephant and Castle, Farmer Browns, Manifesto, Hush, Sprezzatura and the Stella Cinema. In addition, the numerous amenities of Ranelagh, Rathgar, Harold’s Cross, Milltown and the City Centre are all within walking distance.
The local area also hosts an array of well-regarded schools including Gonzaga College, Alexandra College, Muckross College, St. Mary’s College, The High School, Sandford Park, Kildare Place and Rathgar Junior School. UCD, Trinity College and TU Dublin universities are also within easy reach. The property is well served by numerous Dublin Bus routes along Rathgar Road and Rathmines, with the green line Luas accessible at nearby Ranelagh.
The site has full planning permission in place (Reg. Ref. No. 3381/20) for the demolition of all existing buildings and the construction of a new 3/5 storey apartment building comprising 26 apartments (2 no. studio, 13 no. 1 bed and 11 no. 2 bed units) with communal roof garden amenity space at 3rd floor level. There is no basement required under the granted permission.
The subject site falls under Dublin city development plan 2016 – 2022 and is zoned Objective Z1: Sustainable Residential Neighbours ‘To protect, provide and improve residential amenities.’
Knight Frank commented: ‘The property represents a prime residential development opportunity in one of the most sought-after residential areas in Dublin. The vast number of amenities in Rathmines and surrounding neighbourhoods, in addition to the city centre being within walking distance, are ideal for either a build to sell or build to rent scheme for the proposed apartment block. Given the prime location we would anticipate strong interest in the property.’
You can also read more about this project in The Irish Times.