Tuesday 24 October 2017

Development land at Naas likely to sell for close to €5m

Peter Flanagan

Peter Flanagan

CBRE and Jordans have been named as joint agents for a site they are calling a "highly strategic industrial land bank" which has come to the market adjacent Junction 10, Naas Road Interchange.

The subject lands at Naas are for sale by private treaty and provide an "excellent opportunity for both speculative developers and owner occupiers, given the unparalleled access to the M7".

A total of approx. 23.13 hectares (57.16 acres) are on the market at a guide price understood to be in the region of €5 million for the entire holding, equating to a competitive rate of €87,500 per acre exclusive.

The land holding is strategically located directly adjacent the soon to be upgraded Junction 10 of the M7. The upgraded junction will allow full and immediate accessibility to all directions of traffic on and off the M7. The lands benefit from extensive profile of over 850m onto the R445 (Naas-Newbridge Road).

The majority of the lands (44.83 acres) are zoned Objective, "NE 1" under the Kildare County Council Development Plan 2011- 2017 while the remaining lands are zoned agricultural with every possibility of been re-zoned in the next development plan.

According to CBRE's Jarlath Lynn, "the high profile strategic lands will be of interest to both owner occupiers and speculative developers.

"There is also excellent potential for higher value uses such as petrol filling stations," he said.

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