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A large nursing home site near Delgany and Greystones in Co Wicklow is new to the market this week at more than €1.5 million through agent Lisney.
The site, in family ownership for many years, extends to 28.8 acres and is located just south of Glen of the Downs on the Kilpedder side of the N11. This would mean it is about a 15-minute drive to the M50.
The site adjoins Willowgrove close to the Grove pub. About half of it is zoned for a nursing home under the Wicklow County Development Plan 2016-2022. The zoning allows for one-bedroom assisted living units and independent (but supervised) living units.
A recent report on the nursing home market by Cushman & Wakefield found a “significant level of pent-up demand from both domestic and international investors” for nursing home stock and sites.
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"Increased investor interest is driven by rising demand for nursing home beds, which is not expected to slow unless the level of new stock is dramatically increased," said Marian Finnegan, research chief economist at Cushman & Wakefield.
Central Statistics Office figures show that the population aged 80 and over in Ireland is set to increase from 128,000 in 2011 to 344,900 by 2036. The number of people aged 85 and over is projected to grow from 58,200 in 2011 to 179,500 by 2036.
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