Frederick Street, Clara, Co. Offaly, R35AY71

Exceptional Investment Opportunity - Prime 4.4 Acre Mixed-Use Site in Clara Town Centre


Presenting a rare opportunity to acquire a high-potential 4.4-acre mixed-use development site centrally located in the heart of Clara, Co. Offaly. Zoned "Mixed Use Town Centre" under the Offaly County Development Plan 2021-2027, this strategically positioned site blends income-generating assets with significant development and heritage value.

Key Highlights
-Hydroelectric Plant
Fully operational, app-controlled hydroelectric plant powered by the River Brosna, flowing through the site. Annual output: 400-620 MWh, generating an income of approx. '¬40,000 per annum. Modern infrastructure: automatic trash rack cleaner, remote monitoring, and metering Installed in 2008 at a cost of '¬750,000 with an expected 100-year turbine lifespan.
Historical significance: First turbine (1919) still operational at time of upgrade

-Residential Income
Detached two-bedroom house (former forge), leased and generating '¬14,000 per annum
Tenant unaffected by sale. Architecturally notable, this mid-19th century structure contributes to the town's heritage character

-Landmark Flour Mill Complex
Disused but architecturally significant six-storey former flour mill, c.1800, with adjoining return and outbuildings
Features include: striking stone entrance, historic brick chimney (c.1880), and former mill manager's house

A signature industrial landmark of Clara, steeped in history and ideal for sensitive restoration or adaptive reuse

Heritage & Zoning Advantages
The Old Mill, House, and Entrance Gate are listed on the National Inventory of Architectural Heritage (NIAH)
Mixed-Use Town Centre Zoning permits a wide range of redevelopment possibilities - residential, retail, commercial, hospitality, cultural, or tourism-focused initiatives

Additional Features
Newly constructed hydro building (2008) adjacent to the mill. Water rights to Kilbeggan, further enhancing future potential.

Development & Investment Potential
This is an exceptional opportunity to invest in a historically rich site with two robust income streams, protected structures, and development zoning that supports a wide range of future uses. Whether seeking to restore a piece of Clara's industrial past or develop a dynamic town centre destination, this property offers unmatched potential in one of the Midlands' most charming and connected towns.