Investment and development property has €3.7m guide price

AN INVESTMENT property on Herberton Road in Rialto has gone on the market with a guide price of €3.7m.

Described as an investment and development opportunity by selling agent Harvey, the sale comprises a site of 1.5 acres with buildings of 2,882sq.m.

The site produces an income of €173,000 and vacant possession is possible in September of this year.

It is noted in the property listing that a feasibility study has explored the development of 50 apartments and 2,048sq.m of commercial space on the site.

It is zoned Z10, meaning the site is for inner suburban and inner city sustainable mixed uses.

The selling agent stated in the listing that the site provides “excellent reversionary potential on the passing rent” and is 10 minutes’ walk to LUAS Red Line at Rialto.

The current tenant is not affected, according to the property listing.