Recovery begins to gather pace beyond the Pale
Published 13/05/2015 | 02:30
OUR much vaunted recovery is slowly creeping out to rural areas as the price of land on the outskirts of towns and villages appears to be on the way up again.
The most recent Allsop sale featured a number of properties with development potential and saw some very healthy prices paid.
In Dunshaughlin, Co Meath a 16ac parcel adjacent to the town sold for €930,000 or almost €60,000/ac. The property has good road frontage.
This pattern was replicated and the price surpassed when a 9ac parcel at Lagore Road, Dunshaughlin sold for €680,000 or more than €75,000/ac.
Moving across to the coast at Bettystown, a 50ac holding sold for €630,000 or €12,500/ac. Located close to Bettystown/Laytown train station, the property is currently in grass though situated in noted tillage country.
Meanwhile, seven acres of ground bordering the food capital of Ireland at Kinsale sold for €120,000 or over €17,000/ac. The land is under grass and has road frontage and views over the River Bandon.
A more modest price was paid for 56ac at Arden Road on the outskirts of Tullamore, Co Offaly. This property sold for €380,000 or almost €7,000/ac. The lands are laid out in five separate divisions, with extensive road frontage onto the Arden Road.
All in all, it would appear that land with development potential is beginning to gain in price as the prospect of economic growth moves ever so slightly beyond the Pale.