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Harcourt Street language school sold for €1.446m after keen bidding war

No 26, a protected structure currently in educational use, received a flurry of interest and 25 offers before the deal was sealed

QRE Real Estate Advisers has sold 26 Harcourt Street in Dublin 2 for €1.446 million. The price is 11.25 per cent in excess of the initial guide price of €1.3 million.

In total, 25 offers were made between two parties, out of four who had registered to take part in the online auction powered by Offr.

A total of 45 enquiries were received for the property, showing keen interest in well-positioned Georgian buildings with specific planning permission for educational use.

The property is a mid-terrace four-storey-over-basement Georgian building extending to about 362 square metres, with a small self-contained yard at the rear.

The building benefits from educational use following a successful change of use from offices in 2009. It has, until recently, been used as a language school. The team handling the sale at QRE believe the new owner will continue to use the property for educational use.

The property, which is a protected structure, is zoned ‘Z8’ and is suitable for a variety of uses including hotel, medical, office and residential, subject to a successful grant of planning permission.

The Investment and Agency team at QRE said they had “strong interest in this building from the outset, which led to a competitive auction scenario resulting in a successful outcome for our client”.

“We have accumulated a substantial list of interested parties looking for similar stock.”

More details are available from the agent at 01-6375555.

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July 2022