Drumcondra mixed use investment with residential plan in place for €650k
Developers, investors and potential owner-occupiers may be interested in two high profile properties which have come on the market on Dublin’s Upper Drumcondra Road at an indicative price of €650,000.
Numbers 92 and 92A are offered for sale with the benefit of full planning permission for the development of a two bedroom townhouse to the rear of the existing property.
Number 92 currently comprises a vacant ground floor corner business unit with prime exposure on busy Drumcondra Road, a vacant two bedroom ground floor rear unit with a secure courtyard and a three-room office unit on the first floor currently leased with a two-year lease. Number 92A is a freestanding office unit in red brick at the rear.
Sales agent Robert Colleran says the property could achieve an estimated rental value of over €70,000 per year once the main building has been renovated and the townhouse developed.
Numbers 92 and 92A occupy a prominent location on the east side of the road alongside a range of wealthy occupants. These include FLYE Gym, Lidl, Skylon Hotel, Tesco Express, Mace, Corrigans Butchers, The Ivy House, Corvo Italian Restaurant, Base Pizza, Grafton Barber and Lloyds pharmacy.
Several of Ireland’s largest educational establishments are located within walking distance. These include Mater Dei Institute of Education, All Hallows and St Patrick’s College, all three of which operate in conjunction with the nearby Technological University Dublin (TUD). Drumcondra itself is a large, long-established, densely populated residential area within 1.5 miles of the town center and O’Connell Street. The area is served by a Quality Bus Corridor (QBC) with many bus routes stopping within walking distance of the property, while Drumcondra train station is 1 km away.