RoundUp:Ardawn Developments, which specialises in assembling development sites and negotiating planning permissions, appears to have got good value with the purchase of a 13-acre waterfront site in Arklow, Co Wicklow, for €31 million.
Selling agent Savills HOK had been expecting to fetch over €40 million for the land which was owned by Qualceram Shires plc. It plans to relocate its manufacturing operation and, even though it did not get the expected price for the complex, it decided to accept the offer and move on with its plans.
Over the summer months, CB Richard Ellis also managed to wrap up the sales of two sites, one in Bray and the other in Dublin 2. The agency secured over €15 million for a site of 2.3 hectares (5.7 acres) at old Connaught Avenue owned by St Peter's Parish. Dún Laoghaire Rathdown Co Council acquired the land which is likely to be used for either a housing or apartment development.
The agency also got over €5 million for a site of 0.08 of a hectare (0.2 of an acre) at Sandwith Street Upper, close to Pearse Street in Dublin 2. It is likely to be used for a residential development.
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