A TOTAL OF 274 apartments across a four-acre site has just gone on the market for €135 million.

Put on the market by agents Cushman & Wakefield and Knight Frank, this development called The Grange would allow a buyer to “acquire a significant footprint in Dublin’s strongly performing residential sector”.

Fronting onto the Stillorgan Road/N11 and Brewery Road, the site for sale has the potential for an additional 263+ units subject to planning permission and building works.

Many of the balconies in the development overlook the Dublin mountains and Dublin Bay.

The apartments range from one bedroom, two bedroom and three bedroom apartments, and the site is located a short drive from Dublin city centre, Ballsbridge, Ranelagh and Donnybrook. It is also close to Sandyford Luas stop.

The agents said that strong demand is anticipated from both local and international private rental sector investors, as well as from international developers, because there are “limited opportunities available to acquire standing stock and prime development land”.

According to Daft.ie’s latest quarterly rental report, the average rent in Dublin is now 26% higher than the previous peak in 2008.

The average rent in south Dublin city and south Dublin county was almost €2,000 at the end of 2017, Daft.ie said.

“In some segments of Dublin, rents have now doubled since 2010,” the report’s author Ronan Lyons said.