An Irish private investor has paid about €3.5 million for number 46 Merrion Square, a four-storey over-basement period building in the heart of Dublin city centre’s Georgian core. The price paid surpassed the €3.4 million that had been guided for the property when it was offered to the market by agent Colliers with vacant possession along with its associated mews at 46 St Stephen’s Place last October. The mews, which had been seeking a price of €800,000, failed to find a buyer and has since been taken off the market.
Number 46 first came to the market in May 2023 with an asking price of €4.4 million, but did not trade. At the time it was occupied by three tenants and was producing total annual rental income of €225,240. Colliers sold the adjoining number 47 Merrion Square, to private investors in May 2022, for €5.69 million.
Number 46 extends to a net internal area of 526sq m (5,667sq ft). The property has generously proportioned rooms with views over Merrion Square, spacious common areas and an impressive entrance hallway. The reception rooms can accommodate open-plan configurations, while a number of smaller rooms can be used as cellular offices.
The lower ground floor provides independent access to Merrion Square and has generous floor-to-ceiling heights. The building retains numerous original features, including ornate cornicing, ceiling roses, sliding sash windows and marble fireplaces.
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Stephen Conway, who handled the sale on behalf of Colliers, said number 46 saw “considerable interest from both owner-occupiers and from parties who were interested in converting the property back into a family home”. The €3.5 million sale price equated to a capital value of €618 per square foot.
