A round-up of today's other stories in brief.
Capel set to build mixed scheme in Terenure
One of Dublin's top apartment developers, Capel Developments, has emerged as the purchaser of a well-located infill site in the centre of Terenure village, Dublin 6. The company paid €18.5 million for 1.2 acres with frontage onto both Rathfarnham Road and Beechlawn Way. The zoning will permit a wide range of uses including apartments, offices and retail facilities, according to selling agent Hamilton Osborne King.
Capel is likely to seek planning permission for about 80 apartments, offices and around 929sq m (10,000sq ft) of retail space. It is likely that many of the apartments will be bought by couples trading down from large houses in the Terenure area. The site is in the heart of the village close to all facilities.
Capel, run by Eddie Keegan, John O'Connor and Liam Kelly, has been one of the most successful developers in the past decade and is currently building 118 apartments on the site of the former National College of Ireland at Sandford, Ranelagh. It is also developing apartments at Rathbourne, Ashtown, Dublin 15.
Capel's acquisition of the Terenure site has coincided with its takeover last weekend of the Portmarnock Hotel and Golf Links. The four-star hotel and golf links was bought for €70 million and after Christmas the new owners plan to build a further 40 bedrooms to bring the total up to 140.
Kilkenny site make €1.9 million
Further evidence that housing sites have rapidly appreciated in value in Kilkenny city was provided at an auction in the city on Monday when a plot of 0.64 of an acre was sold under the hammer for €1.9 million. The sale was handled by Sherry FitzGerald McCreevy.
€3m for Foster Place offices
Trinity College Dublin has sold two adjoining Georgian office buildings at 5 and 6 Foster Palce in Dublin 2 for around €3 million. The college owns a considerable number of adjoining properties. Ganly Walters handled the sale. The buildings are understood to have been bought by a Dublin property developer. The two buildings were sold exactly 10 years ago for just under €700,000.
The same agent is quoting €8.5 million for The Wicklow Arms hotel in Delgany after it failed to sell at tender. The hotel stands on a site of 1.9 acres and has obvious development potential.