Friday 27 May 2016

Bought for €20m, on sale now for €800,000



Published 24/10/2012 | 15:29

Red marks the spot at Ballyguile Hill near Wicklow Town.
Red marks the spot at Ballyguile Hill near Wicklow Town.

A LARGE LAND holding up for auction in Wicklow town has a guide price of €800,000, a fraction of the €20 million paid for the same land in the mid noughties.

The 122-acre site at Ballyguile Hill is located on the south side of Ballyguile Road and only a short distance from Wicklow town. The site is suitable for agricultural uses and also comes with the benefit of planning permission.

Jonathan Preston, Head of Savills Development and Land Division, says, 'Agricultural land has been selling well over the past year with good interest shown regionally for lands which are also zoned for development. We have seen a trend emerge whereby farmers are also offering to buy back lands which they would have sold in the days of the Celtic Tiger. These lands obvious suitability today is to farming for tillage or grazing with the added benefit of being part zoned with a live planning permission which is valid until 2016. The views from the lands across Wicklow Bay are stunning.'

The lands are bounded to the south by agricultural lands in tillage, to the east by residential development, to the north by Ballyguile Road with the Rose Hill Estate beyond and by agricultural grazing land to west. The main access to the lands is from Ballyguile Road.

Under the Wicklow Environs/ Rathnew LAP, part of the lands are designated Residential, with the majority zoned Open Space and a section remaining unzoned. Planning permission also exists on part for the development of 156 residential units and a crèche.

Savills Development and Land Team will be handling the sale and the auction takes place on November 22.

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