North Earl Street property with development potential at €1.85m

Investors looking to capitalise on the much-anticipated delivery by developer Paddy McKillen jnr of the new Clerys Quarter and regeneration of the wider O'Connell Street area will be interested in the sale of a property on North Earl Street.

The building, which is being sold with vacant possession by agent Arthur Ryan for a guide price of €1.85 million, comprises 487sq m (5,250sq ft) distributed across four storeys and basement level.

Located just three doors down from North Earl Street’s intersection with O’Connell Street, the property was in retail use previously at ground and first-floor levels, with ancillary stores and staff areas on the remaining levels. Internally, the property has a retail frontage of approximately 6.25m and a depth of approximately 25.5m on the ground floor, with a rectangular shape.

The vendor applied for, and secured planning permission to demolish the second floor annexe and stair enclosure to the rear of the property and to construct a new extension, replace the shop front and external signage.

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‘Civic design character’

The building is situated in an area zoned as Objective Z5 in the 2016 Dublin City Development plan. The aim of this designation is “to consolidate and facilitate the development of the central area, and to identify, reinforce, strengthen and protect its civic design character and dignity”.

It should be noted that the premises is located within the designated O’Connell Street Architectural Conservation Area (ACA), the aim of which is to protect the character of historic buildings. It also sits within the O’Connell Street and environs Special Planning Control Scheme (SPCS) area 2016. This scheme provides that there should be a control on development of protected structures, changes of use and changes to retail shop fronts in order to ensure high-quality development. The scheme advocates intensive use of upper floors and will consider restaurants, cafes, bars, galleries, hairdressers, beauty salons and offices.