DevelopmentLand: A residential site of 3.33 hectares (8.23 acres) beside the proposed Citywest shopping centre at Saggart, Co Dublin, is expected to sell for over €25 million when it goes to tender on May 26th.
Hamilton Osborne King is handling the sale of the site at Fortunestown Lane which is zoned for residential use under the South Dublin County Council development plan. A Luas station is planned for the southern boundary of the site when the light rail service is extended.
Mark Reynolds of the selling agent says that this will have "a dramatic impact both on the residential density permitted and on the end values for residential units". Conceivably the site could accommodate 35 apartments per acre, a figure that could rise to 60 per acre when the Luas service is up and running.
The site occupies a prominent position at the junction of Fortunestown Lane directly opposite the shopping centre which is due to be anchored by Dunnes Stores when it opens in 2007.
The shopping centre will have a wide range of stores, as well as a bar and restaurant and 360 residential units.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/6BDEAESQEJH4BHNFRSVZH3W4TM.png)