Partially-built estate on market
€2.95 million sought for 30 houses and site in Dundalk
A PARTIALLY-BUILT housing estate and a substantial development site on the southern side of Dundalk, Co Louth, is to be offered for sale by private treaty on the instructions of Declan Taite, RSM Farrell Grant Sparks.
Sherry FitzGerald Carroll is quoting a guide price of €2.95 million for the Cairlinn Hall site of 7.26 hectares (17.93 acres) which includes the first phase of 30 houses, some of them completed and others at various stages of first and second fixings. Foundations have been put in place for a further 25 homes.
Cavan-based Keelagh Homes had been developing the site with funding from the EBS before the company was put into receivership. The loans are now the responsibility of Nama.
The developer had carried out extensive ground works on the site including underground services, estate roads, footpaths and street lighting. Two of the houses are already occupied.
The overall scheme at Mullagharlin Road, close to the former PJ Carroll’s headquarters – now the Dundalk Institute of Technology – envisaged a development of 203 houses and a creche.
Alternatively there is planning permission for a 70-bedroom nursing home in place of 21 of the houses. An extension of the planning permission means that it does not expire until June, 2016.
The Cairlinn Hall houses were specially designed to include high energy efficiency through insulation and high-tech heating. A wood burning district heating system is already providing heat to the existing houses.