High profile Athlone centre site ‘suitable for 105-bed hotel or 36 homes’

Town centre sites rarely come up for sale – and even more rarely do they occupy as prominent a position as a site currently listed with estate agents Bannon.

Described as a Strategic Landholding with Development Potential (SPP), the property, at Gleeson Street, Athlone, is directly opposite Athlone Towncentre.

It has a profile position, and is a short distance from the junction with Mardyke Street.

The auctioneers say the property offers considerable redevelopment or refurbishment opportunity

Offered for sale by way of private treaty, the site extends to approximately 0.2 hectares (0.5 acres) and it features a former cinema, most recently used as a furniture store, set back approximately five metres from the street.

The property also includes two adjoining two-storey commercial buildings fronting Gleeson Street, formerly occupied by a florist and a fish shop.

A yard and outbuildings are located at the rear of the site.

Feasibility studies have been prepared proposing two potential development schemes.

The first entails 36 residential units with retail space on the ground floor (SPP) and the second envisions a hotel with 105 bedrooms and restaurant (SPP).

The property is being marketed with a guide price in excess of €450,000.

Jamie Brindley, surveyor at Bannon, said: “The Gleeson Street site represents a rare development opportunity in the heart of Athlone town centre. It is seldom that a well-positioned landholding becomes available in this prime location.

“The site offers potential for either redevelopment or refurbishment, subject to planning permission. We are expecting good interest for this opportunity, given the strategic location, the potential options and lot size.”