€7m portfolio includes site in Dún Laoghaire and Kill International Equestrian Centre

Sale includes unfinished housing developments at Garristown in north Dublin and at Danesfort Court in Loughrea, Co Galway

Rutland House on Crosthwaite Park South in Dún Laoghaire: comes to market with planning permission for two additional houses

Rutland House on Crosthwaite Park South in Dún Laoghaire: comes to market with planning permission for two additional houses

 

Kelly Walsh is selling a portfolio of sites, unfinished developments and an equestrian centre for €7 million on the instructions of receiver Tom Kavanagh of Deloitte.

The standout asset in the sale is the 34-acre Kill International Equestrian Centre in Kill, Co Kildare.

This purpose-built facility, which hosted Special Olympics equestrian events in 2005, includes three indoor arenas and one outdoor arena. There are also catering facilities and a large parking area.

According to the agent, the centre “can be operational within weeks”. It also offers easy access to the M7 and, as the lands adjoin residential developments, there is potential for rezoning in the future.

Housing developments

The portfolio includes unfinished housing developments at Garristown (18 units) in north Dublin and at Danesfort Court in Loughrea, Co Galway (20 units). These two developments are in almost complete condition and could be finished out to generate cashflow within a short time.

Also included in the sale is Rutland House on Crosthwaite Park South in Dún Laoghaire. It is in need of refurbishment but it comes to market with planning permission for two additional houses on its 0.6-acre grounds.

Planning permission was granted in March 2009 for the refurbishment and extension of Rutland House to 276sq m (2,971sq ft) and for the construction of two additional detached houses, each with floor areas of 226sq m (2,433sq ft). The house was last on the market in March 2015 at €1.9 million.

The last asset included in the sale is 21 acres at Kilrane in Co Wexford which had a previous planning permission for 130 houses.