€8.8m sought for 68-acre housing site

With renewed demand for housing sites in many parts of the greater Dublin area Knight Frank is expecting strong interest in a substantial landbank at Hollystown, Dublin 15, with full planning permission for 331 houses and a neighbourhood centre.

Evan Lonergan of the selling agents is seeking offers in excess of €8.8 million for the 68 acres, equating to just under €130,000 per acre.

Lonergan says that as the current permission provides for four- and five-bedroom houses with floor areas in excess of 278sq m (3,000sq ft), the likelihood was that the purchaser would seek a revision of the permission to build smaller houses.

He expected the planners to allow eight houses per acre.

The site is being sold on the instructions of Farrell Grant Sparks, who were appointed receivers to Garbo, a company headed by builder Donal Caulfield.

In 2008 Caulfield secured a 10-year permission to develop the housing estate as well as a two-storey, 1,115sq m (12,000sq ft) neighbourhood centre to accommodate a convenience store, crèche, café, pharmacy, medical centre, restaurant and hair and beauty salon.

The land is located to the south of Hollystown village, directly opposite the golf club, and north of the new M2/N3 link road.

The land has about 1.6km of road frontage.