Published Date: 07/11/2024

The Irish Times

Wednesday , November 6,2024

FIONA REDDAN

A refurbishment opportunity in one of the worlds "coolest neighborhoods" has come on the market at a guide price of more than €1.6 million. Royal Canal House, on Phibsborough Road, Phibsborough , Dublin 7, is a distinguished period property that blends historical charm with modern potential, across four floors of about 505 sq m (5,436 sq ft) on a gross internal area.  In 2020, Time Out magazine described the area as one of the world’s coolest neighbourhoods, thanks to an abundance of coffee shops, restaurants and pubs and hidden parks (this year the popular magazine opted for Inchicore). More recently, Irish pop star Gavin James is reported to have bought the historic Doyle’s Corner bar in the suburb.

According to selling agents Finnegan Menton, the property, which is being sold with vacant possession, could be renovated either in its current planning as a boutique guesthouse, or could also accommodate alternative uses, subject to planning permission.

Spacious accommodation 

The property, dating from the early Georgian era, was home to railway workers until 1948 and later converted into a hostel. In more recent years the building was in commercial use with a language school the last occupant until 2014. It features spacious accommodation throughout, with high ceilings, decorative cornices and an elegant front entrance doorway, offering excellent ample natural light all of which are an integral part of the buildings character.

The property’s proximity to key city centre landmarks and institutions makes it an attractive investment for tourism purposes, and it benefits from a recent planning permission for 13 en-suite bedrooms, together with dining facilities and staff amenities. The planning requires for the refurbishment of the main property and to replace the existing single storey building to the rear. The proposed bedrooms are very large with an average size of about 238 sq ft. Under proposed plans, there would be an external courtyard connecting the main property with the new extension.

The property also offers additional development potential to the side, subject to obtaining the necessary planning, expanding its footprint while maintaining its architectural integrity.