The sheer strength of demand for ready-to-go residential sites in Dublin and in the greater Dublin area was firmly in evidence shortly before Christmas with several parties competing to secure a site in Rush in advance of its auction.
While the sale of the 3.2 acre site closed last Friday, online property specialist BidX1 had received bids from a number of prospective purchasers prior to its scheduled auction on December 9th last. The property, which had been guiding at a price of €1.7 million, is understood to have been acquired by an Irish developer for about €1.75 million
Located at Brook Lane in Hayestown, approximately 1.5km from Rush town centre, the site has full planning permission for 40 houses. The approved scheme consists 29 three-bedroom semi-detached units, six three-bedroom units with gable entrances, four three-bedroom mid-terrace units and one four-bedroom semi-detached house. The development, which received planning permission in 2019, benefits from 143 metres of road frontage and an Irish Water connection agreement.
Commenting on the sale, Johnny O’Connor, head of commercial property at BidX1, said: “The successful sale of this site is testament to the demand for housing in suburban towns like Rush which benefit from strong amenities and transport links. Selling the property on a digital platform under current market conditions was extremely important to the speed and efficiency of the transaction, while achieving a very strong price.”