A Dublin city property with permission for a hotel development has had its price reduced.
As reported by The Irish Independent, located at 134 James Street, Dublin 8, the mid-18th century house recently secured planning permission for a boutique 20-bedroom hotel, or alternatively it could have potential for an apartment development.
Bryan Garry of agents QRE is reportedly now guiding €750,000 for the property, which will reportedly be auctioned online via the Offr platform on Friday December 10.
Before it secured planning permission, the building had reportedly been brought to the market with a €1.5 million guide price and the price was reportedly subsequently reduced to €1.2 million.
It is reportedly understood that it had been sale agreed in the region of €1 million until recently.
Now the vendor, a private Irish investor, is reportedly seeking to sell the building by way of online auction.
A feasibility study and report completed by Hughes Planning & Development Consultants and Long and Lawrence Architects has reportedly identified that it could also have potential for a 16-unit apartment development comprising 15 one-bedroom and one two-bed apartment over six floors with an ancillary retail unit at ground floor.
Located on a landmark position at the corner of James Street and Steeven’s Lane, the property reportedly comprises a two-bay, four-storey over basement house most recently in use as music rehearsal studios.
The end-of-terrace site reportedly extends to 0.066 acres while the existing building, reportedly incorporating a rear extension, extends to 484.92 square metres (5,220 square feet) and reportedly benefits from a right of way to the rear of the return over the adjoining site and onto Steeven’s Lane.
It is reportedly well located to generate both tourist and local business as it reportedly stands on the tourist trail that links Trinity College, Temple Bar, Christchurch Cathedral, St. Patrick’s Cathedral, The Guinness Store House and a number of local distilleries with The Royal Hospital in Kilmainham.
It is reportedly also less than 250 metres south of Heuston Station.
Major local employers reportedly also include the HSE headquarters as well as St James’s Hospital campus where the new National Children’s Hospital is being developed.
The Luas red line linking the city centre, IFSC, Heuston Station and the hospital reportedly also passes its front door.
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