Glenamuck Road in Carrickmines a development hotspot

Two adjoining houses standing on about two acres on Glenamuck Road, Carrickmines, have been sold to Kildare-based developer Mozart Construction for €4.25 million.

Knight Frank’s development land team handled the sale of the properties, which have full planning permission for 16 four-bed semi-detached houses, each 160sq m (1,724sq ft), and 12 apartments ranging in size from 57.5sq m (619sq ft) one-beds to 103.5sq m (1,114sq ft) three-beds.

Glenamuck Road is a development hotspot due to its convenient location, near the Luas and The Park Carrickmines retail park.

It's likely Knight Frank and joint agents McMahon O'Connor was also behind the sale of a luxury house on 2.53 acres across the street from Mozart's site.

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The Leys, a 624 sq m (6,710sqft) bungalow with six reception rooms was put on the market by the joint agents in 2015 seeking €2.25 million, but it only appeared on the Property Price Register this year at €3 million. UK-based Hollybrook New Homes, whose previous Irish developments include houses at Robswall in Malahide, purchased The Leys.

Another Hollybrook subsidiary, Stonrane, recently made an unusual purchase in Malahide, snapping up Rachra on the Coast Road – the 492sq m (5,295sq ft) home of ex-Anglo banker Patrick Whelan.

Whelan, formerly director of lending at the collapsed bank, was fined and disqualified from acting as a company director for five years in January 2017. Rachra was not advertised for sale, however, it appeared on the Property Price Register as having sold for €3 million in August 2017 – one of the highest amounts paid for a north Dublin property in the post-recession era.

The Whelans originally acquired the site in 2004 for a hefty €2.375 million at auction and subsequently invested considerable additional funds demolishing the existing house and building its large replacement.

After acquiring the home this year, Stonerane immediately leased the property back to Whelan’s wife for a five-year term.

Ms Whelan is a director of and minority shareholder in Marbleside, a company that purchased investment properties in Skerries and Swords for a combined €17.9 million earlier this year alongside a US partner.