Saturday 21 April 2018

Navan lands with potential for 1,100 houses guiding at €8.5m

Ronald Quinlan

Ronald Quinlan

Developers looking to take advantage of the demand for family homes in Dublin's commuter belt will be interested in a 23.88-hectare (59-acre) site in Navan, Co Meath, which has just been brought to the market.

Robert Colleran, director of development land at CBRE, is quoting a guide price of €8.5m (€144,000 per acre) for the site, which subject to planning permission, has the potential to accommodate 1,100 houses.

Located to the immediate north east of Navan on the Slane Road, the land forms part of the Navan Development Plan and is within the Clonmagadden Valley Strategic Development Zone (SDZ). Currently, the site is in agricultural use. In addition to a large volume of mixed houses, the selling agents say the Blackcastle Lands may be able to accommodate a 'High Street' with local shops, civic/community buildings, cafes, primary school, medical centre.

Meath's increasing popularity was borne out in the preliminary results of the 2016 Census which showed that the county's population had increased by 10,807, or 5.9pc, from 184,135 in 2011 to 194,942 in 2016.

With Dublin property prices now averaging €427,000 generally and as high as €600,000 in Dun Laoghaire Rathdown, according to the latest figures released by the CSO last week, the numbers setting up home in Meath and the capital's other immediate commuter counties of Wicklow and Kildare, look set to grow exponentially in the short to medium term at least.

People's willingness to live outside the capital while still working in it was borne out in separate research released by the Bank of Ireland.

It suggested that more than one in four prospective home buyers is prepared to commute more than 30km to work.

Commenting on the survey's findings, Bank of Ireland head of mortgages, Shane Quinlan, said: "Housing supply and pricing issues are clearly driving interest away from Dublin, with more first-time buyers prepared to travel longer distances."

Sunday Independent

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