A prime development site just off the M50 which is producing rental income in the short term is fresh to the market this week through Lambert Smith Hampton.

The agent is quoting more than €5 million by private treaty for a 5.02-acre site beside the Beacon Hospital and Beacon Hotel at Bracken Road in Sandyford, Dublin 18.

It has dual zoning under the Dún Laoghaire/Rathdown County Development Plan 2010-2016 with permitted uses including medical, education, public services, residential institution, industrial/ warehousing, motor sales, petrol station, retail warehousing and small retail with office, hotel and residential uses open for consideration.

Three buildings occupy the site. These have a total floor area of 3,600sq m (38,750sq ft) and range in size from 316sq m (3,401sq ft) to 2,508sq m (27,000sq ft).

The buildings are occupied by three tenants, including Audi Centre Ltd, under short term agreements which produce a total rent roll of about €160,000 a year. In addition, the property is held under a long lease subject to a nominal ground rent.

Sandyford has seen substantial residential, office and commercial development in recent years. It is home to a number of high-profile occupiers including Microsoft, Tullow Oil, Vodafone, Barclaycard and Merrill Lynch. Transport links nearby include the Luas to St Stephen's Green and the M50.