Templeogue apartments on half an acre have €2m guide price
Located at 2-16 Springfield Avenue, Dublin 6W, and just 200 metres from Templeogue village, the site extends to 0.58 acres with two apartment blocks. These blocks accommodate a total of eight two-bedroom apartments which are fully occupied and generating €106,000 in gross annual rental income.
A feasibility study by Shay Cleary Architects demonstrates the potential for a development of between 16 and 20 dwellings under a choice of two designs. Each option would rise to three storeys and could be either three-storey townhouses or a combination of duplexes and apartments.
The site is zoned residential under South County Council Development Plan 2022-2028.
Springfield Avenue is well connected by public transport with a number of bus routes within walking distance.
Nearby Templeogue offers a range of amenities including cafes, pubs and shops while Terenure is located just 1.8 kilometres from the property.
A number of schools are also within walking distance including Terenure College, Templeogue College and Our Lady's School.
Cliona Lenihan, of the development and land consultancy team at CBRE, said that the Springfield Avenue property is located in a prime residential area.
"While there is no planning in place, the current passing income from the properties will be appealing to a wide range of investors and developers seeking redevelopment opportunities. We expect to see strong interest from a wide range of parties based on its location and its proximity to Templeogue village and Dublin city centre."
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