€4.25m paid for ready-to-go site at Vernon Avenue, Clontarf

A group of private investors has paid €4.25 million for a ready-to-go site for 17 family homes at Vernon Avenue in Clontarf, Dublin 3. The selling price works out at €250,000 per unit.

Agents CBRE handled the sale of the 0.39 hectares (0.96 acre) site, which was previously used as a sports grounds.

There was competitive bidding for the site because of its 30 metres of frontage on to Vernon Avenue as well as its close proximity to restaurants, health and fitness clubs, golf facilities and rugby, cricket and yacht clubs

The planning permission granted by An Bord Pleanála in June, 2014, provided for the demolition of the existing building on the site and its replacement by 17 three-bedroom homes ranging in size from 98sq m to 179sq m (1,055sq ft to 1,927 sq ft).