Arklow lands primed for residential-led scheme sold for €3m
Irish builder pays 54% over guide for 99-acre holding on outskirts of north Wicklow town
An aerial view of the site shows its location on the outskirts of Arklow town.
The strength of appetite among developers and investors for lands suitable for residential accommodation within Dublin’s commuter belt was firmly evidenced with the recent sale of a 99-acre site in Arklow, Co Wicklow.
Having been brought to the market last October by Finín O’Driscoll of Knight Frank at a guide price of €1.95 million, the lands have just been acquired by an Irish builder for €3 million. The price paid represents a premium of 54 per cent on the amount sought by the selling agent.
Located at the southern end of Arklow town and to the west of Arklow Golf Club, the lands are zoned under the Arklow & Environs Local Area Plan 2018-2024 for a mix of housing (39 acres), employment (22.6 acres), shops (two acres) and education (9.76 acres).
And while there is no planning permission in place, the site has a positive planning history. A 10-year planning permission was granted in May 2004 for a mixed-use development comprising eight office blocks, retail outlets, a transport terminus, a hotel, 47 apartments and a creche. This grant has since lapsed.
In terms of services, Arklow has experienced wastewater deficiencies for some time. This is set to be addressed, however, following An Bord Pleanála’s approval of plans for the new Arklow Wastewater Treatment Plant. Irish Water is in the process of tendering the works to enable the appointment of a contractor for the project, which upon completion will have the capacity to serve a population of 36,000. The delivery of the treatment plant will unlock significant development potential for Arklow town.
The site is accessed from the R772 over the Dublin and southeastern railway line. Exit 21 on the M11 is within 2km while Arklow train station is within 1km providing commuter rail links to Dublin city centre with an approximate travel time of one hour and 40 minutes. Wexford Bus also provides services from Arklow to Dublin Airport.