Tuesday 22 August 2017

€2m for prime Cork development land

An aerial view of the lands at Glounthaune, Co. Cork
An aerial view of the lands at Glounthaune, Co. Cork
Ronald Quinlan

Ronald Quinlan

Agents Cushman & Wakefield are guiding a price of €2m for a prime residential development opportunity in Glounthaune, Co. Cork.

The property, which is available for sale in one more lots, comprises a block of lands extending to 4.78 hectares (11.8 acres) fronting the public roadway and located within the development boundary of Glounthaune in the 2017 Draft Local Area Plan (LAP).

Three acres of the subject property have a zoning objective of community use while the remaining 8.8 acres have superb potential for residential development, subject to planning permission. Also being included in the sale is a four-bedroom detached residence of 217 sq m (2,340 sq ft) with adjoining courtyard and wooded lands that extend to 6.7 acres.

The potential strength of the location and value of the property was demonstrated only recently with the sale of large detached family homes at the adjoining Cois Chuain development for sums in the region of €700,000.

Glounthaune is a much sought after residential area with a host of local amenities and services available. Located just 10km east of Cork city, the village is served by Glounthaune Rail Station and close to all major road networks and employment hubs. The subject property is 0.7km north of the village centre in the townland of Ballynaroon and nearby upmarket residential developments include Cois Chuain, The Highlands and The Terrace.

Seamus Costello of Cushman & Wakefield says he expects to see strong interest in the property "given the desirability of the location and shortage of properties of this quality".

"This is an excellent opportunity to acquire a prime residential development opportunity in an exclusive location."

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