Eight apartments on market for almost €2 million

Eight apartments in South Dublin on a “unique residential development site” are on the market with a guide price of almost €2 million.

Located at 2-16 Springfield Avenue, in the heart of Templeogue, Dublin 6W, the 0.58 acre site currently comprises eight apartments in two residential blocks.

According to selling agent CBRE, all eight are currently occupied on standard tenancy agreements, producing a gross rental income of approximately €106,000 per annum.

Templeogue village is conveniently located just 200m from the site and offers a host of amenities including cafes, restaurants, pubs and other services. Terenure is also located just 1.8km from the site.

There are a number of schools located a short walk away including Terenure College, Our Lady’s School and Templeogue College, with a range of amenities including scenic walks along the River Dodder, playgrounds, tennis courts and GAA pitches also nearby.

Springfield Avenue is well connected by public transport with several Dublin Bus routes within walking distance of the site, providing regular services to Dublin city and the surrounding suburbs, and due to its proximity to the M50 motorway, allows for convenient access to Dublin Airport, Dublin city centre and the greater Dublin area.

The site is zoned ‘RES – Residential’ with the objective “to protect and/or improve residential amenity” in the South Dublin County Development Plan 2022 – 2028. A feasibility study has been undertaken by award-winning architecture firm, Shay Cleary Architects, which demonstrates the development potential for between 11 & 20 units, S.P.P. (available upon request from CBRE).

Cliona Lenehan, who is a member of the development land and consultancy at CBRE, said they expect the property to attract “strong interest”.

“The properties at Springfield Avenue offer a unique residential redevelopment opportunity in one of Dublin’s prime residential areas.

“While there is no planning in place, the current passing income on the properties will be appealing to a wide range of investors and developers seeking redevelopment opportunities,” she continued.

We expect to see strong interest from a wide range of parties based on the location of the site and its proximity to Templeogue village and Dublin city centre”.