Landmark Kells site primed for development guiding at €7m

A 13.2-hectare (33-acre) site with development potential has been brought to the market in Kells, Co Meath.

Joint agents Savills Ireland and Hugh Morris Alliance Auctioneers are guiding €7 million for the “substantial landmark site in Kells town centre”, which is zoned for residential and mixed-use development under the Meath County Development Plan 2021-2027.

The site is located on Bective Street, 1.1km from exit 10 off the M3 motorway. Kells is on two national corridors, the M3/N3 and the N52, providing access to the M50 and all main arterial routes.

The site’s location, known as the Backlands, has two access points on Bective Street as well as a third access point on the Dublin/Navan Road making it “a strategic location for a considerable residential and mixed-use led scheme, as well as a retail outlet village”, the selling agents have said.

Office owners face €7bn bills to bring properties in line with new EU environmental standards, says Savills

---

Forestry portfolio offers opportunity for long-term growth at €7m

---

Davy Real Estate seeking €17m for cinema at Blanchardstown Centre

---

UK developer acquires Independent House for student accommodation in €8m deal

---

An existing office building located to the north of the land is fully occupied. The building is understood to be generating an annual rental income in excess of €265,000. The selling agents note that it provides prospective purchasers an opportunity to make a return from the site while going through the planning process for further development.

The selling agents describe Kells as “an employment centre in the north of the county” as well as “an attractive commuter town”. It has a population of 10,081 within a 3km radius of the site and 17,400 within an 8km radius.

The site has a mixture of zoning objectives that include new residential, mixed use and open space under the Meath County Development Plan 2021-2027. It is identified on the plan as one of four master plan areas in Kells, with up to 35 per cent earmarked for residential development.

Karl Lynch of Savills says: “This is a landmark site in Kells town centre with ready access on to the M3/N3 and N52. The property offers a prospective purchaser the opportunity to deliver a large residential and commercial development.”