DevelopmentLand:Wooded lands of nine acres near Waterford city centre - owned by the Bishop of Waterford and Lismore - are for sale by tender through joint agents Bannon Commercial and O'Shea O'Toole & Partners for over €10 million.
The lands at St John's College at Richardson's Folly comprise 3.67 hectares (9.08 acres) and are zoned residential. Given the affluent neighbourhood in which they sit, they have obvious potential for a high quality, high density residential scheme subject to the necessary planning consents.
The college was founded in 1871 and trained hundreds of young men for the priesthood until its closure in 1999. The joint agents say that the former seminary building was recently sold as part of a separate transaction by the Trustees of the Dioceses of Waterford and Lismore, and do not form part of the lands in this sale.
This is one of the last remaining prime residential sites in Waterford city centre, according to the agents. Waterford has a rapidly growing population which has now passed the 45,000 mark, as per the 2006 census and its continued growth is assured given its role as a "gateway city" under the National Spatial Strategy.
Access to the city and its environs has been helped by the opening of the outer ring road and further improvements will flow from the city bypass and the new N9 dual-carriageway, both of which are scheduled for completion by 2010.
Uses permitted under the current zoning include residential, education, car-park and park-and-ride facilities, community centres, recreational facilities and guest houses, amongst others.
The development is being offered for sale by public tender on May 29th.
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