Sunday 25 September 2016

Development site outside Dublin on the block guiding €25,000 per acre

Published 14/06/2015 | 02:30

REA Coonan is quoting €25,000 per acre for this 28 acre site close to Kilcock in Co Meath
REA Coonan is quoting €25,000 per acre for this 28 acre site close to Kilcock in Co Meath

REA Coonan has been retained as agents for a development site in Meath with an asking price of some €25,000 per acre.

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This prime property comprises of approximately 11.4 hectares (28.16 acres) in total. Strategically located north west of Kilcock Town in County Meath the lands provide for a medium term development opportunity.

The lands are laid out in one large division and are currently used for agricultural purposes. The property is bounded on one side by the Rye River and on the other side by a secondary road with about 250m road frontage.

The property is a regular shaped property and currently all in grass.

The subject land forms part of Kilcock Environs Development Plan for Co Meath. Under the Meath County Development Plan 2013-2019 the lands are zoned A2 to provide for new residential communities and community facilities and F1 to provide for and improve open spaces for active and passive recreational amenities.

The town of Kilcock is located to the north of County Kildare and is separated from County Meath by the Rye River.

The town is located primarily between the Rye River and the new M4 motorway. Kilcock is very accessible to Dublin City with the Arrow commuter rail, and a regular commuter bus service providing regular transport to and from the town.

Kilcock boasts the full range of amentities and is some 4km from the University town of Maynooth.

Industry watchers will be expecting good interest in the land, which is considered to be very much within the commuter belt for the greater Dublin area.

The land also makes up part of the huge swathes of development land around the capital that is zoned for residential construction.

According to the Society of Chartered Surveyors of Ireland, there is enough land around the city zoned for residential building to deliver more than 100,000 housing units. However there is very little bulding activity.

There were 15 planning applications submitted for developments of at least 25 houses submitted around Dublin between January and March this year.

Those developments would account for 2,363 new homes if they are built. That compares to the more than 7,000 a year that are needed.

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