DevelopmentLand: An eight-acre site - close to the new Luas park-and-ride facility on the Naas Road and the Red Cow roundabout - is ideal for a high density scheme, writes Jack Fagan
Another large development site has come on the market on the Naas Road in the west Dublin suburbs.
James Meagher of HT Meagher O'Reilly is quoting over €37 million for the eight-acre greenfield site located close to the new Luas park-and-ride facility and the Red Cow roundabout.
The planned sale comes months after two Dublin investors paid just over €100 million for the 14.35-acre SDS site fronting on to the Red Cow roundabout. It is likely to be used for a mixed-use development of shopping, offices and apartments.
The latest piece of land to hit the market has 150 metres of frontage on to the Naas Road, the busiest suburban road in the Dublin area. Like all other land fronting on to the Naas Road, the eight acres form part of a new Naas Road corridor study by South Dublin County Council which will set the guidelines for what will be a major gateway corridor.
It is thought likely that the new owners of the SDS site will look for planning permission for tower buildings to mark the gateway into the city. The council is already committed to facilitating "high quality mixed-use developments on lands adjoining the Naas Road/N7".
The rectangular eight acres now to be sold were acquired several years ago by an investment syndicate led by Simon Kelly.
The selling agent suggests that the site is likely to be used for a high density residential scheme along with offices, retail and possibly a hotel to cater for the heavy traffic along the Naas Road.
The Government is committed to redeveloping the Red Cow roundabout and providing relief roads around it to reduce the congestion there in busy periods.
HT Meagher O'Reilly describes the eight acres as a "prime short-to-medium term development opportunity with maximum potential being derived from the site on completion of the Naas Road corridor study".
The land will be sold at tender on November 17th.
