Published Date: 14/11/2018
Joint agents Finnegan Menton and GVA Donal Ó Buachalla are inviting offers of more than €7.0 million for the former Murphy & Gunn BMW dealership and part of the Jesuit Order’s grounds used as a car park, which together account for a full one-acre site.
A feasibility study by Reddy Architecture suggests that the conveniently located land bank could accommodate 67 one- and two-bedroom apartments in three blocks of three, four or five storeys.
The planned development will be enhanced by the success of two adjoining housing schemes, Mount St Anne’s and Glenmalure Park. The proposed development will be within easy walking distance of Ranelagh and the Milltown Luas stop.
It is likely to appeal both to developers planning to cash in on the strong selling prices and others wishing to avail of the buoyant long-term rental market, according to Nicholas Corson of Finnegan Menton.
The Murphy & Gunn garage premises at the front of the site was largely rebuilt in 2007 and include a showroom that could accommodate 10 cars, a six-bay workshop, two-storey offices and a parts division extending to 1,465sq m (15,770sq ft).
The rear site has a number of single-storey prefab buildings, with an overall floor area of 400sq m (4,305sq ft).
Murphy & Gunn will continue to trade as a Hyundai dealer from its Rathgar Avenue showrooms. The sale of the Milltown premises will follow the ending of the BMW franchise agreement after almost 50 years".