DevelopmentLand: The largest town centre site to come on the market for decades in Ballinasloe, Co Galway, is about to be marketed by Dublin agent CB Richard Ellis.
The strategically located site of 30.9 acres fronts directly on to the main street of the town but is largely situated on an attractive peninsula formed by the River Suck.
Ronan Webster of CB Richard Ellis is quoting a guide price of €7.5 million for the land but, given the likely interest in it by developers looking for a well located retail, commercial and residential site, it will be no surprise if it makes considerably more.
Under the current Galway Development Plan, 3.6 acres are zoned for commercial and residential use - the remainder has a recreational and amenity zoning - but the general expectation is that a significantly larger portion of the land will be developed because of its convenient location on the edge of the town. There is currently a planning permission on the site for a three-storey, 101-bedroom hotel with basement car-parking.
The commercial zoning also provides for a wide range of uses, which include retail warehousing, shopping, discount food store, neighbourhood shopping, a major sales outlet as well as a residential development.
A part of this site will inevitably be used for a shopping complex.
Ballinasloe is a prosperous and expanding town located on the N6 national primary route linking Dublin and Galway. It is the largest town in Co Galway after Galway city, with a population of over 6,000.
That figures rises to 341,000 within a radius of 60kms. The town has substantial hospital and education facilities and a newly developed IDA Business and Technology Park.
CBRE plans to sell the site in one or three separate lots by tender on May 25th.
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