Monday 23 October 2017

Cut-price deals for once prime parcels

The 112-acre tract of land on the outskirts of Wicklow town with planning permission for 156 homes is up for auction on November 22
The 112-acre tract of land on the outskirts of Wicklow town with planning permission for 156 homes is up for auction on November 22

Donal Buckley

Four parcels of land with development potential in the greater Dublin area are being brought to the market this week by agents Savills.

Located in Dublin City centre, and on the outskirts of Wicklow town, Blessington and Navan, their guide prices range from €105,000 to €800,000.

The smallest lot is a 0.07 acre infill property on the corner of Townsend Street and Lombard Street, in Dublin 2, which has a €400,000 guide price.

The property consists of a cleared yard and two, three storey over basement buildings, which are currently vacant.

It is within a short walking distance of Trinity College, and benefits from full planning permission for a 36- bedroom student accommodation complex, which was granted in 2011.

The largest land holding tract is a 112 acre property near Wicklow town with planning permission for 156 homes which is to be auctioned on November 22.

Its guide price of €800,000 is a fraction of the €20m+ at which it was bought for in the mid noughties.

In 2011 Wicklow County Council granted an extension of the planning permission for five years. It includes permission for a creche.

From its hillside site, there are views overlooking Wicklow Bay and Mountains and it is less than 10 miles from the popular bathing beach of Brittas Bay.

It will be auctioned on the instructions of Kieran Wallace of KPMG.

The main access to the lands is from Ballyguile Road, onto which the lands enjoy very good road frontage.

Near Blessington, a 9.5 acre site, adjoining the Blessington Manor housing scheme on the Kilmalum Rd, just 1km from the town centre, has a €220,000 guide price.

This guide represents a 95pc reduction on the original sale price of about €6.5m paid for the lands in the height of the boom.

Zoned residential in the Kildare County Development Plan 2011-2017, the lands are all in grass, have frontage to the Kilmalum Road and rise gently from the road to an elevated position with views over the country side, Blessington Lakes and the Wicklow Mountains.

The fourth parcel consists of 10.38 acres in the picturesque village of Johnstown on the southern outskirts of Navan, Co Meath.

With extensive frontage to the main road leading from the village to Walterstown and return frontage to a laneway, the agents are guiding about €105,000 for an auction on 21 November.

Their proximity to services and the southern boundary of the Navan Environs Development Plan Boundary also suggest the potential for the development of one or more houses.

Indo Property

Also in Business